site.btaFinance Minister Dismisses Criticism over BGN 7 Bln Debt in State Budget

The BGN 7 billion is the only option the Government can use to finance activities related to increasing the capital of state-owned companies, said Finance Minister Temenuzhka Petkova during a briefing at the Council of Ministers on Thursday. Her statement came in response to a statement by Continue the Change (CC) Co-Chair Assen Vassilev, who described the borrowing of BGN 7 billion in the state budget as "most scandalous."

Petkova emphasized that the draft budget for 2025 has been reduced by BGN 2.5 billion in expenditures compared to the version proposed by the caretaker government.

"The budget expenditures for 2025 are in line with current legislation and reflect the policies implemented in the public sector over the past four years," Petkova said. She noted that the funds from the European Union and the Recovery and Resilience Plan do not influence the state budget, so "the budget will not explode."

During the briefing, Deputy Prime Minister and Innovation and Growth Minister Tomislav Donchev announced that next week the Cabinet will reveal which projects from the National Recovery and Resilience Plan will be cancelled.