site.btaContinue the Change Warns of Risk of Starting New Year without Budget

Continue the Change warned that because of the Finance Ministry's refusal to table an extension of the 2024 State Budget, the state will start the new year without a budget. In a press release put out Friday, CC say that after the formation of the Parliamentary Budget and Finance Committee, a request was made with 1/3 of the members to convene a meeting on Friday where the caretaker Finance Minister would present the ministry's plans for action in a situation without a passed State Budget for 2025 and without a budget extension bill. However, the Committee meeting was not scheduled due to other commitments of the caretaker Finance Minister, Lyudmila Petkova.

The Parliament Chair is expected to schedule a meeting immediately after the parliamentary recess, CC added.

On Thursday, CC co-leader Assen Vassilev insisted the Council of Ministers to submit a budget extension bill to come into force on January 1, 2025. According to him, if this bill is not passed, there will be no legal basis for the collection of health contributions from January 1, 2025, which is BGN 30 million per day in lost revenue for the treasury. There will be no electricity compensation for businesses, nor will the money for compensation be able to be collected - or given away. Businesses will have to pay at exchange prices, Vassilev said. There will also be no minimum pension, he said, and the maximum pension will fall from BGN 3,400 to BGN 2,250. The payment of pensions on January 7 will be put at risk as the National Social Security Institute (NSSI) has no legal basis on which to give the minimum pensions at their amount, he said.