Speaking on Bulgarian National Television on Monday, Progressive Bulgaria MP and chair of the parliamentary Budget and Finance Committee Konstantin Prodanov said that there are no changes to second-pillar pension contributions in the official correspondence with the European Commission or in the draft budget presented.
“When all the excitement over this issue erupted, we said that no such measure was being planned and that it had never been planned,” Prodanov said, explaining that planning means a specific intention that is reflected in the relevant policy documents.
“I cannot know what was discussed at expert level,” he said and added that ideas can and should be discussed within every ministry, while the role of the political leadership is to sift through them and make a decision.
The opposition is trying to use two sheets of paper to cover up 500 pages of audits by the National Audit Office, he said.
“It does not matter what working-level communications may have taken place if the decision is not included in the budget,” Prodanov said, adding that he saw no reason why Finance Minister Galab Donev should resign.
Asked about the new debt envisaged in the forthcoming budget, Prodanov said that when a budget runs a deficit, there is no way to cover it other than by taking on new debt. He added that a large proportion of outstanding expenditure from previous years would be paid.
“This is the financial stability that is possible under the current circumstances, given the financial irresponsibility, fiscal profligacy and free-for-all of the past five or six years,” he said.
Deputy Prime Minister and Finance Minister Donev said in a statement that the government had not proposed to the European Commission that part of the social security contributions allocated to the second pension pillar be redirected to the National Social Security Institute (NSSI).
On November 6, Bozhidar Bozhanov of Democratic Bulgaria said he had a letter from Donev to the European Commission stating that the government was proposing the temporary redirection of part of the social security contribution to the first pillar of the pension system.
Donev responded that these were comments made in discussions with the European Commission and could not be used as grounds for claiming that the government was seeking to raise funds in this way to plug a hole in public finances.

No Changes to Second-Pillar Pension Contributions in Official EC Correspondence or Draft Budget, Prodanov of Progressive Bulgaria Says THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-11-09 00:37:10

Latest news World news Country news Most important news latest news most important latest of the day Economic news Bulgaria, Bulgarian economy news, Bulgaria economic news, latest economic news, breaking economic news, Bulgarian business news, Bulgaria business news. Bulgarian financial news, Bulgaria finance news, Bulgarian markets, Bulgaria stock market, Bulgarian banking sector, Bulgarian investments, foreign investment Bulgaria. Bulgaria inflation, Bulgaria GDP, Bulgarian exports, Bulgarian imports, Bulgaria trade, Bulgarian industry, Bulgarian companies, Bulgarian entrepreneurs. Bulgarian business economy, economic growth Bulgaria, Bulgaria economic policy, Bulgarian fiscal policy, Bulgarian monetary policy, Bulgaria budget, Bulgarian public finances. Bulgaria wages, Bulgarian employment, Bulgaria unemployment, Bulgarian labor market, Bulgaria salaries, Bulgarian taxes, Bulgaria taxation, Bulgaria energy market. Bulgaria real estate market, Bulgarian property market, Bulgaria construction sector, Bulgarian tourism economy, Bulgaria agriculture economy, Bulgarian manufacturing, Bulgaria technology sector. Bulgarian startups, Bulgaria investment news, Bulgaria corporate news, Bulgarian financial markets, Bulgaria interest rates, Bulgarian banks, Bulgaria euro adoption, Bulgaria economic reforms.

BULGARIA NEWS – NEWS AGENCY 2009–2026 2026-11-09 00:37:10