In an interview aired on Bulgarian National Television on Sunday morning, Deputy Prime Minister and Minister of Finance Galab Donev reported that by identifying new sources of revenue and reducing expenditure, the cabinet aims to ensure that the 2027 budget will be in line with the Ministry of Finance’s three-year budget forecast of a deficit of 3.8% of GDP.
The minister added: “Our ambition is to reduce this 3.8% deficit as close as possible to the 3% threshold, and even to draw up a budget for 2027 with a 3% deficit, so that we can successfully bring the excessive deficit procedure to a close.” In his words, the excessive deficit procedure is an extremely heavy burden for Bulgaria, as the government must report to the European Commission on measures for fiscal consolidation, reducing expenditure and securing revenue with a lasting effect. The European Commission may also require further action to curb expenditure and bring the budget deficit closer to 3%.
Finance Minister Shares Cabinet’s Goal of Deficit of 3.8% of GDP or Lower in 2027 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-04 08:06:59
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