The 2027 state budget bill will be presented next week, Prime Minister Rumen Radev announced at the opening of the Sofia Economic Forum on Monday.
Radev highlighted the “extremely dynamic geopolitical situation” and noted that everyone was bearing the consequences of deepening crises stemming from the global military, economic and technological confrontation over the war in Ukraine. “The conflict had long ceased to be a war between two countries and had become a global confrontation and a war of attrition, but it must not turn into a war of annihilation,” he said.
The Prime Minister raised the question of how the country could adapt more quickly and effectively to dynamic geopolitical changes, identify strategic opportunities for Bulgaria and the wider region, and ensure its security, which was the foundation of all other activities. Without security, there could be no social development, economy, investment or human capital, Radev said. He also asked how the country could become more resilient and stronger through joint efforts. According to the Prime Minister, regional cooperation and alliances would become increasingly important.
For Bulgaria, it was important to find a way to overcome its difficult economic and financial legacy more quickly, Radev said, noting that the country was still experiencing a downward trend in foreign direct investment and industrial exports.
The Prime Minister said the Government faced the task of safeguarding incomes and pursuing demographic policies, while supporting investment to ensure economic growth. “At the same time, it had to significantly reduce the deficit and indebtedness,” he added. Radev described these as highly conflicting, difficult and demanding objectives, but said the Government would work to achieve them.
“That was why the 2027 budget would set clear priorities, including putting public finances on a sound footing, increasing social and family support, and allocating more funding to defence, healthcare, education, culture, sport and other critically important sectors,” he said.
The Government would also focus on stimulating production and introducing tax relief to achieve economic growth, Radev said. Only increased production, higher productivity and greater competitiveness could genuinely address the budgetary challenges, he added.
The Prime Minister said the Government aimed to reverse the current trend and shift the country’s economic development model away from one based on consumption, redistribution and cheap labour towards accelerated growth driven by higher productivity, competitiveness, innovation and increased investment. These were the main priorities the Government had set for the budget, Radev said.
Commenting on attacks on vessels in the Black Sea, Radev told forum participants that maritime security had become an extremely important issue and that a solution had to be sought as quickly as possible. He said Bulgarian institutions had responded to the attacks with great speed and professionalism. Bulgaria could not counter the threat on its own, so it had done everything possible, primarily through diplomatic means and in cooperation with its allies, to safeguard freedom of navigation in the Black Sea, he said.
Radev assured participants that Bulgaria’s territorial waters were safe for shipping and that the Government would continue to do everything possible to maintain that safety. He stressed that Bulgaria had a duty to develop its own defence capabilities, which was why the 2027 budget would provide more funding for the modernization of the Bulgarian Armed Forces.
PM: 2027 State Budget Bill to Be Presented Next Week 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-26 11:02:35
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