site.btaFinance Minister: Cabinet’s Main Priority Is to Preserve Country’s Financial Stability

The caretaker government has always stated that the main priority is to hold fair elections and preserve the financial stability of the country and the sustainability of public finances, caretaker Deputy Prime Minister and Minister of Finance Lyudmila Petkova said Friday at a briefing at the Ministry of Finance on the occasion of the preparation of the national medium-term fiscal and structural plan for the period 2025-2028 and the budget procedure for the preparation of the budget for 2025. The briefing was also attended by NRA Executive Director Rumen Spetsov and Director of the Customs Agency Georgi Dimov.

Petkova presented the results of an analysis of public revenues and expenditures for the period 2022-2024, which shows an increase in spending, stressing that this report was prepared without any political element.

"The conclusion that can be drawn from the analysis is that the growth rate of spending significantly outpaces the growth rate of revenues, including revenues from the Recovery and Resilience Plan," Petkova said.

She called for a mandate to be given to the caretaker government to complete the negotiations on the Plan, as the country risks losing billions in EU finds.

"The purpose of the analysis is to find the factors that affect revenues and expenditures in order to identify measures that will contribute investments while respecting fiscal sustainability," Petkova said. She added that Bulgaria is the only country that has not provided amendments to its Recovery Plan to ease energy transition.

"I would like to appeal to the political parties to organize a debate in the National Assembly to give a mandate to the caretaker government to finish the negotiations with the EU, because the funds Bulgaria will lose amount to billions of leva," she said.

"The 2025 budget should guarantee the country's financial sustainability in the medium term. In this regard, the best solutions should be found. The caretaker government is ready to talk with political parties, employers, and trade unions to find the best solutions for Bulgaria," Petkova added.