“A few more days”: Bulgarian finance minister promises that budget delay will not hinder eurozone accession

The reason for the postponement of the 2025 Bulgarian budget is the preparation of the structural fiscal plan for 2025-2028. This is what Finance Minister Temenuzhka Petkova told reporters in the National Assembly today.

We need a few more days. This is because of Bulgaria's commitment to prepare a structural and fiscal plan to submit to the European Commission. It concerns the period 2025-2028," Petkova said.

She stated that consultations are currently underway with the EC so that the plan in question and the draft budget can be sent to Brussels simultaneously.

I want to categorically refute the claim that the draft budget is being deliberately delayed," Petkova pointed out.

She reiterated that it would take "a few days" to finalize this process.

A day earlier, it was announced that the deadline for submitting the 2025 Budget has been moved from February 14 to February 21. In addition to the state budget, the submission of the draft law on the budgets of the State Social Insurance Fund and the National Health Insurance Fund has also been postponed.

At present, the finance ministry has not yet published the budget execution data for January.

Earlier today, Democratic Bulgaria stated that the country’s eurozone accession is at risk due to the week-long budget delay. The party also used the opportunity to propose cutting the state administration by 15% within three years, or about 6,000-7,000 civil servants per year.

In response, GERB leader Boyko Borisov pointed out that "this is a great idea."

They appointed all of their relatives when in power – including wives, cousins, entire families. They can now be dismissed," Borisov quipped.

He added that Bulgaria will request an extraordinary convergence repo when Budget 2025 becomes a reality.

In a week, when we have a budget, we will ask for a convergence report. They (DB), in order to keep busy, say things that are not true. These people, when they have nothing to say, talk nonsense. They have been sabotaging the eurozone for four years," Borisov said.

No risk for Bulgarian eurozone membership

There is no risk for the eurozone. There are no hesitations or anything that would change our direction regarding the eurozone," Temenuzhka Petkova further assured.

She added that Eurostat inflation data is being awaited - due to be published on February 24. If they show that Bulgaria meets the inflation criterion and all other requirements, the Ministry of Finance, following the parliamentary decision from last summer, “is immediately obliged to prepare a request for a convergence report.”

Translated by Tzvetozar Vincent Iolov