Ministry of Finance

The international rating agency "Fitch" (Fitch Ratings) confirmed the long-term credit rating of Bulgaria in foreign and local currency BBB with a positive outlook.

The law on the adoption of the euro will be submitted to the National Assembly within a month, announced Deputy Minister of Finance Metodi Metodiev during a discussion on the topic of the forum "The role of organized civil society in the process of Bulgaria's accession to the Eurozone". According to him, achieving the inflation criterion remains the main challenge facing our country.

Bulgaria is making efforts to be ready to accept the euro no later than January 1, 2025.

Today at noon, the consultations on the budget started in the format of working groups between GERB-SDS and "We Continue the Change-Democratic Bulgaria". In the early afternoon, talks continued at the Ministry of Finance.

The working groups of GERB-SDS and "We Continue the Change-Democratic Bulgaria" (WCC-DB) on budget, finance and economic policy discussed the parameters of the budget for this year, which is still to be adopted.

The two coalitions are united around achieving a 3% budget deficit, keeping the tax levels, continuing on the path to the Eurozone and optimizing spending where possible.

Bulgaria's economy will grow by 1.4 percent this year, after 3.4 percent growth in 2022. This is stated in the spring forecast of the International Monetary Fund, whose managing director is Kristalina Georgieva. From there, they expect inflation in our country to decrease to 7.5 percent in 2023 after the growth of 13% on an average harmonized basis for 2022.

"The Ministry of Finance is preparing the draft budget for 2023, which the Council of Ministers must submit by the end of April. In the event that at this time the negotiations to form a government are still ongoing, we will also fulfill this responsibility of ours."

The Bulgarian economy will slow its growth to 1.8 percent this year, according to the spring macroeconomic forecast of the Ministry of Finance.

Due to the Russian war against Ukraine, an alternative scenario has also been developed, according to which the growth of the gross domestic product (GDP) at current prices may deviate downwards by between 0.5 percentage points.

BELGRADE - Serbia registered a 3 bln dinar budget deficit between January and February 2023, the Ministry of Finance said on Tuesday.

Revenues totalled 280.7 bln dinars, while expenditures amounted to 283.8 bln dinars.

A 9.1 bln dinar deficit was registered in February, the ministry said in a statement.

The state will utilize seized movable and immovable assets that come from criminal activities, per a bill by the Ministry of Finance that was submitted to Parliament, so that boats, yachts, ships, helicopters and ultra-luxury cars can go under the hammer.