The European Commission (EC) will issue a new assessment under the excessive deficit procedure against Bulgaria in November. A spokesperson for the institution said this at a press conference in response to a question regarding the adoption of this year’s budget, according to BTA.
We are monitoring the situation very closely and note that if the current trend continues, we can expect a higher net increase in expenditures than previously agreed upon. We will continue to monitor the situation, including in the run-up to the EC’s upcoming autumn assessment of the state of the European economy in November,” the spokesperson said.
According to him, the EC will also provide an assessment of the excessive deficit procedure in Bulgaria at that time.
As a reminder, on June 3, the European Commission (EC) officially launched the excessive deficit procedure against Bulgaria. In the report published at that time, the EC noted that since 2020, Bulgaria has recorded consecutive budget deficits, and public debt has been growing at an increasingly rapid pace.
Large and sustained increases in spending, without offsetting structural financing measures, have contributed to the continuing deficits despite positive economic growth. Bulgaria may face challenges in meeting its commitments under the medium-term fiscal and structural plan in the absence of serious efforts toward fiscal consolidation,” the Commission warned at the time.
Simona Gotsova 
