Sofia’s Municipal Council approved the city’s 2026 budget on Thursday, setting the total financial framework at EUR 1.54 billion. The budget includes EUR 300.3 million in capital spending, focused on transport, road infrastructure, education and the urban environment.
Sofia Mayor Vassil Terziev noted that the budget was approved later than usual because of delays in adopting the national budget, leaving it to cover roughly three quarters of 2026. He highlighted education, public transport, infrastructure, neighbourhood improvements and Sofia’s green system as key priorities. The economic framework for public transport was also approved, with the mayor stressing that a significant deficit is expected in 2026, partly due to recent wage increases. He called for more efficient management of the municipal transport companies and a long-term investment plan.
Deputy Mayor Georgi Klisurski noted that the tax assessments used to calculate local property transaction taxes are planned to increase by up to 33% in 2027 and up to 35% in 2028 and 2029. The changes could generate around EUR 25 million in additional municipal revenue in 2027. Officials said the additional revenue will support kindergartens, schools, public transport, urban infrastructure and green spaces.
Terziev stated that despite the record budget size, the municipality’s debt level remains low and below the statutory threshold of 15%. According to him, this creates an opportunity to secure additional funding for major infrastructure projects during the next term. He further noted that the Sofia Municipality’s own-source revenues are increasing by approximately EUR 65 million in 2026, adding that this opens up additional possibilities for more ambitious planning regarding large-scale projects.
Terziev pointed out that, due to restrictions associated with the election period in 2027, the Municipality will be unable to incur new debt obligations during the time leading up to the elections. In his view, the increase in own-source revenues will make it possible to revisit the option of taking on new debt for major projects in 2028, emphasizing that such a loan would have a significant impact on the 2027 budget, effectively launching key city projects with a multi-year implementation horizon.
Sofia Approves EUR 1.54 Billion Budget for 2026 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-09-24 12:37:00
Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news. Bulgaria news, Bulgarian news, news from Bulgaria, latest news Bulgaria, breaking news Bulgaria, Bulgaria today, Bulgarian politics, Bulgarian government. Bulgarian economy, Bulgarian business, Bulgarian society, Bulgarian culture, Bulgarian tourism, Bulgarian sports, Bulgarian media, Bulgarian parliament. Sofia news, Plovdiv news, Varna news, Burgas news, Ruse news, Stara Zagora news, Pleven news, Sliven news. Dobrich news, Shumen news, Pernik news, Haskovo news, Yambol news, Pazardzhik news, Blagoevgrad news, Veliko Tarnovo news. Vratsa news, Gabrovo news, Asenovgrad news, Vidin news, Bulgarian local news, Bulgaria current affairs, Bulgaria breaking news, Bulgaria headlines. Balkan news, Southeast Europe news, Bulgarian international news, Bulgaria world news, Bulgarian elections, Bulgaria events, Bulgaria analysis, Bulgaria updates.Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law.
BULGARIA NEWS – NEWS AGENCY 2009–2026 2026-09-24 12:37:00
