Bulgaria's Council of Ministers Discusses 2015 Draft Budget

Finance | December 1, 2014, Monday // 11:44|  views

Meeting of the Council of Ministers with Prime Minister Boyko Borisov to the right. Photo: BGNES/EPA

Bulgaria's draft budget for 2015 will be one of the topics of discussion at today's extraordinary meeting of the Council of Ministers, which had been called by Prime Minister Boyko Borisov on Friday.

The Ministry of Finance proposes the budget deficit in 2015 to be lowered to 3 % of Gross Domestic Product (GDP), electronic daily Dnevnik reports.

During next year economic growth is expected to be 0.8 %, while unemployment is projected at 11.7 %.

The 2015 draft budget foresees social and healthcare insurances to remain at their present levels.

Similarly, no change is planned for the minimum wage, which remains at its current level of BGN 340.

At a meeting of the National Council for Trilateral Cooperation (NSTS), gathering representatives of the government, employers and employees, a two-step increase of the minimum wage had been discussed, which would see it rise to BGN 380.

Further proposals in the draft budget include maintenance of the flat tax, an increase of the tax on deposits' interest from 2 to 10 %, removal of the tax-free minimum, and the introduction of two new preferences for children.

The minimum tax threshold pertaining to different professions will be increased with 4 % on average, a rise of the insurance of agricultural producers is also expected.


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Tags: Council of Ministers, Boyko Borisov, government, meeting, draft budget, finance, minimum wage, tax


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