According to the Public Finance Act, today the Ministry of Finance will publish the final data on budget execution as of the end of July 2025. What the data shows is that revenues, aid and donations under the consolidated fiscal program amount to 46 billion and 300 million leva, which is an increase of 5 billion and 500 million compared to the same period last year, Finance Minister Temenuzhka Petkova said in "The Day Begins". Tax revenues have contributed the most to this growth, which increased by 5 billion and 400 million, which is nearly 16.7% growth compared to 2024, she explained.
"Expenses are also growing. They are 50 billion and 400 million - they increase by 17.7%. All this is based on adopted changes in the legislation in previous years".
These are a series of expenses that were related to obligations to the Regional Ministry and the RIA - over 400 million. Over 276 million were also paid to the Ministry of Transport.
The deficit as of July 31 is 4 billion and 200 million or 1.96% of the country's estimated GDP.
"Revenues are indeed ambitious in the budget for 2025, but we must say why the revenues are overambitious. Because the expenses in previous years were really overambitious. All these changes in the regulatory framework, which lead to an increase and constant expenses in terms of the budget, are reflected in this period.
VAT revenues have increased by 22%, said Temenuzhka Petkova. There is a delay in VAT collection at the Customs Agency. The measures that "colleagues from the National Revenue Agency and the Customs Agency have identified are already yielding results."
She added that VAT revenues are 1 billion and 600 thousand more compared to the same period last year.
"The period in which these measures are effective has been greatly shortened in view of the fact that the budget was adopted late. Some of these measures came into effect on May 1. This explains the lag in terms of revenues. I say again, these revenues are ambitious, but this ambition has its explanation - the last 4 years, in which the expenses were extremely ambitious".
Temenuzhka Petkova also commented on the PUV as follows:
"A serious start was made in terms of the absorption of these funds and the implementation of the projects. So, we hope and expect with great interest and are making great efforts that the revenues that are set in the PUV for the second and third payments by the end of the year will be a fact".
She stated that these 4 political years of timelessness and lack of political responsibility have in practice had their impact on the public finances of the state.
"There are no such accounting practices to conceal the deficit. What accounting practice can it be for the state to increase its share in state-owned commercial companies".
Regarding the Bulgarian Development Bank, Temenuzhka Petkova made the following clarification:
"It is a commercial bank that operates under the Credit Institutions Act. On the other hand, its activities are regulated by a special law. According to this law, one of the main goals of the bank is precisely to provide financial instruments with which to finance public investments that are of key importance for the country's economy".
She expressed hope that "all bad practices related to the BDB have remained in history". She stated that the guarantee for this is that the bank is managed in a transparent manner.
She added that the goal of increasing the capital of the BDB is long-term.
It is categorically not true (referring to a statement by Assen Vassilev) that the limit of 5 million leva has been removed in terms of lending to legal entities from the BDB.
She added that a major factor in terms of implementing the revenues of Budget 2025 is related to revenues, especially the third payment under the PUV. She assured that the government is making "tremendous efforts to fulfill all commitments related to receiving the third payment". These payments are of key importance for the implementation of revenues.
"Therefore, all those who try to sabotage the government's actions should know that they bear serious responsibility if it comes to the point where Bulgaria cannot absorb and receive the third payment under the PUV".
The budget procedure regarding Budget 2026 is still at a very early stage, she pointed out.
"The sustainability of public finances, compliance with the requirements regarding debt, deficit, of course, will be met and this is our priority".
Bulgaria's membership in the eurozone is a strategic priority. There can be no panic, she added, because membership is associated with very serious advantages.