site.btaPM Zhelyazkov Blames Past Imprudent Financial Policies for 2025 BGN 10 Bln Budget Deficit

The 2025 draft budget was prepared amid serious financial challenges, including the need to address substantial liabilities accumulated in previous years, the Government Information Service said on Wednesday. "We are starting with a deficit of BGN 10 billion, of which BGN 6 billion is within the 3% deficit limit and over BGN 4 billion are outstanding obligations from last year. This bill must be settled this year," Prime Minister Rosen Zhelyazkov said at the start of a Council of Ministers meeting on Wednesday. He added that the main priorities when drafting the budget were protecting incomes from inflation and ensuring balanced growth without increasing the tax and social security burden. In this context, Zhelyazkov called for a constructive dialogue, stressing that this country's strategic goals must take precedence over partisan interests.

Deputy Prime Minister Atanas Zafirov said that he had spoken to GERB leader Boyko Borissov about pensions in the 2025 budget. "We agreed that the National Insurance Institute should explore all options for recalculating pensions to ensure that the best decision is made in line with the State’s strategic goals," Zafirov said. The Deputy Prime Minister added that even though the adoption of the budget might be delayed by a few days, efforts will be made to find "an optimal solution for pensioners".

Prime Minister Zhelyazkov added that the Cabinet's governance programme has been finalized and will be reviewed by the government this week. "I hope that it will meet public expectations. We are guided by clear political goals: stabilizing public finances and achieving euro area membership as of January 1, 2026. "Our priorities include modernizing the country, ensuring the security of the Bulgarian people, and achieving sustainable income growth," he added.