Budget Execution and Concerns
The budget execution for 2015 is projected to be 3%. Deputy Prime Minister and Caretaker Minister of Finance Lyudmila Petkova emphasized that this is not a result of budget planning, but rather due to efforts made throughout the year, as a significant portion of the expenses were not initially planned.
However, Petkova warned that the difference between revenues and expenses will be 9 billion euros. To achieve the targeted 3% deficit, measures amounting to 6 billion euros are needed.
Revenue Measures and Concerns
The Ministry of Finance will abandon the introduction of the Mineral Resources tax. Instead, the concession fee will be increased to partially compensate for the expected revenue loss. Additionally, a one-time fee will be introduced for mining companies.
Another source of revenue is expected from Bulgaria's entry into Schengen. However, Petkova stated that Bulgaria still does not meet all the criteria for joining the eurozone. A communication campaign will be undertaken only after these criteria are fulfilled.
Budget Concerns and Proposals
During the National Assembly session, deputies demanded the preparation of a new budget for 2015. However, specific changes and measures were not proposed.
GERB-SDS expressed concerns about the planned 10 billion euros higher revenues, deeming them unrealistic. PP-DB suggested finding mechanisms to control the situation and potentially postpone some expenses. DPS New Beginning emphasized the importance of income for the people, rather than focusing solely on the budget deficit. BSP proposed introducing an excess profit tax for banks.
ITN, Vazrazhdane, and MECH parties also indicated their disapproval of the budget.