The European Commission has published the assessment of Bulgaria's national medium-term structural and fiscal plan for 2025-2028 and it is positive, Nova TV reports. The plan is mandatory for entry into the eurozone and is part of the data subject to assessment of the financial condition of the Bulgarian economy.
In February, Minister Temenuzhka Petkova explained that the Ministry of Finance would delay the presentation of the budget because it needed a few more days to prepare the plan in question. Consultations were also held with the European Commission at that time, with the aim of sending the plan and submitting the Budget Law at the same time.
For the purposes of monitoring the implementation of national commitments in the field of economic and fiscal governance, Member States should submit information to the European Commission in the form of medium-term fiscal and structural plans, covering a period of four or five years depending on the normal length of the legislative cycle of the respective country.
In this document, each Member State should present its fiscal plan, as well as priority public reforms and investments, which together will ensure sustainable and gradual debt reduction and inclusive growth.
The development of the Plan eliminates the need to prepare a Convergence Program and a National Reform Program going forward.
The first National Medium-Term Fiscal and Structural Plan of the Republic of Bulgaria was developed for the period 2025-2028, as outlines the vision of the Bulgarian authorities for the fiscal policy, structural reforms and investments of our country over the next four years. They are necessary to promote stable public finances and achieve sustainable and inclusive growth through reforms and investments.
In order to monitor the progress achieved in implementing the commitments set out in the fiscal-structural plan and addressing the specific recommendations that each Member State receives annually within the framework of the European Semester, an Annual Progress Report should be prepared and submitted to the EC by the end of April each year.