site.btaPublic Finances in 2022-2024 Period Were Managed Unwisely, Finance Minister Petkova Says

The challenge is huge - in the last three years there have been unwise policies in terms of managing the country's public finances, said Finance Minister Temenuzhka Petkova Thursday during a hearing in the National Assembly on the state of public finances ahead of the preparation of the 2025 budget. The motion for the hearing was tabled by Yordan Tsonev, Elvan Gyurkas and Bayram Bayram from MRF - New Beginning.

"We will continue to work to propose a budget with a 3% GDP deficit", Petkova said. "The task is extremely difficult, in the course of the debate it will become clear what measures we are proposing. The situation is very difficult and I will have to disappoint all optimists".

Petkova presented an analysis of the experts of the Ministry of Finance on the management of public finances in the period 2022-2024, the conclusion of which is that policies have been taken that have led to a rapid increase in spending at a slower rate of revenue growth. The 2025 budget will therefore reflect all these recent policies.

The minister added that pensions and salaries alone will account for more than BGN 10 billion of the deficit.

The regular government withdrew the bill of the 2025 State Budget, submitted by the caretaker government, pledging to submit its own bill by February 14, 2025.