It has already become clear that the European Commission (EC) will proceed with a procedure to declare Bulgaria in an excessive deficit due to net expenditures for 2025. In other words, this procedure cannot be avoided. This was stated by Deputy Prime Minister and Minister of Finance Galab Donev during today's parliamentary control.
Deputy Prime Minister Donev used the rostrum of the National Assembly to criticize the caretaker government again for not submitting a report on the state of the state's public finances for this year.
„The European Commission will require Bulgaria to prepare measures that will lead to a reduction in the deficit. One of the measures will provide for reducing net spending by 0.5% of GDP and limiting spending,“ the Finance Minister added.
Galub Donev called on all political forces in parliament to find a solution together and added that “we will all have to bear responsibility before society for the financial situation of the state“.
To a question from an MP, Donev replied that the government's ambition is to submit the draft budget for 2026 for discussion and voting by the end of this month.
“None of the previous governments has taken measures, which is why this situation of excessive deficit has come about. The measures must be in all directions, we cannot rely on one-off measures. You also applied such one-off measures with advance collection of taxes from banks. The EC will not adopt one-off measures, but those that operate in the long term to stabilize finances“, Deputy Prime Minister Donev emphasized from the podium.
He also addressed former Finance Minister Temenuzhka Petkova, noting that since they requested advance payment of taxes from banks in 2025, it means “some holes were plugged in 2025“