site.btaCabinet Adopts Bulgaria's National Medium-term Fiscal-Structural Plan for 2025-2028

The cabinet adopted Bulgaria's national medium-term fiscal-structural plan (MTP) for the period 2025-2028, the government press service said here Wednesday.  

The national medium-term fiscal-structural plan is being prepared on the basis of the rules on the rules of the reformed in 2024 Stability and Growth Pact (SGP), the regulatory framework for the coordination of national fiscal policies of the EU Member States. In line with the amendments to the SGP, the development of the Plan obviates the need to prepare a Convergence Programme and a National Reform Programme for Bulgaria. 

The Пlan has been developed for a four-year horizon and covers the period 2025 to 2028. The document sets out the Bulgarian authorities' vision for the country's fiscal policy, structural reforms and investments in the medium term, necessary to promote sound public finances and achieve sustainable and inclusive growth through reforms and investments. 

The envisaged set of reforms and investments addresses the EU Council's key recommendations on Bulgaria's economic, social, labour, environmental and energy policies for the period 2019-2024, and reflects the priorities set out in Bulgaria's Recovery and Resilience Plan and the Partnership Agreement. These reforms and investments will also contribute to the implementation of the EU's overall priorities - for a fair environmental and digital transition, for social and economic sustainability, for energy and defence security. 

Fiscal policy over the medium term is geared towards meeting the deficit and debt benchmarks under EU law and the Public Finance Act. Preserving the sustainability of the budgetary framework in the context of Bulgaria's commitments both under the SGP and in relation to its euro area membership target remains a fiscal policy priority in the next four years. The long-term sustainability of public finances is also aimed at enhancing confidence and creating a predictable investment and business environment. 

The fiscal plan limits the growth of net public expenditure, ensuring that the deficit remains below 3% of GDP and debt below 60% of GDP over the medium term.

On February 19, the Finance Ministry published the 2025 State Budget Bill and the Medium-Term Budget Forecast for the 2025-2028 period.