The government has already begun preparing next year's budget in euros

The Council of Ministers (CM) approved the budget procedure for 2026, according to decisions made after Wednesday's cabinet meeting. They state that the deadlines, distribution of responsibilities, and requirements for budget administrators have been determined.

The aim is to ensure the necessary organization and coordination in the process of planning, drafting, and updating the medium-term budget forecast and the draft state budget of Bulgaria for the next year.

In connection with the introduction of the euro in January 2026, the information and documents relating to the budgetary procedure will be prepared in euros at the official exchange rate of BGN 1.95583 per euro,” the Council of Ministers said.

The decision clarifies the texts concerning the procedure for the review and approval by the Council of Ministers of investment projects to be financed by state and/or state-guaranteed loans in 2026, in accordance with the changes in the regulatory framework.

The program format of the budget for next year will be applied by all first-level budget spenders whose budgets are part of the state budget, with the exception of the National Assembly and the judiciary, for which this is regulated by law. This is a government tool for improving the quality of public finance management, improving the processes of planning and preparing draft budgets of budgetary organizations, and increasing the transparency and accountability of budgetary systems.

Translated with DeepL.