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GERB-SDS will not support the measures of the official cabinet in the 2025 budget to achieve a 3% deficit

In the draft budget for 2025. the difference between revenues and expenses is 18 billion. BGN to date. If we subtract a deficit of 3% (of GDP), which is 6 billion. BGN, 12 billion remain to be covered. BGN, comments Boyko Borisov

Nov 4, 2024 17:33 144

GERB-SDS will not support the measures of the official cabinet in the 2025 budget to achieve a 3% deficit  - 1

GERB-SDS will not support the measures proposed by the caretaker government in next year's budget, which aim to achieve a three percent deficit. This was announced during a briefing by GERB leader Boyko Borisov, quoted by BNR. He cited figures presented by Finance Minister Lyudmila Petkova, which show that the difference between revenues and expenses is BGN 12 billion:

"In the draft budget for 2025 the difference between revenues and expenses is 18 billion. BGN to date. If we subtract a deficit of 3% (of GDP), which is 6 billion. leva, 12 billion remain to be covered. leva".

Borisov added that covering this deficit is with measures that are unacceptable for GERD:

"And they are such that GERB cannot support them: an increase in insurance by 3% only for the first pillar, a return of VAT in the amount of 20% for the restaurant business and on bread from the previous 9 respectively % and 0%, an increase in excise duty on cigarettes, the introduction of a tax on the excess profits of banks, an increase in the contribution on gambling from 20% to 30%, the introduction of a tax on the profit of underground wealth and removal of concessions".

Another part of the measures provides for the postponement of salary increases in the Ministry of the Interior, Defense and Education for 2026, and not from January 1, 2025.

Borisov specified that he would support the proposed budget only if there is a regular government to take political responsibility for introducing the measures.