Lyudmila Petkova

Bulgaria's Deputy Prime Minister and Finance Minister, Lyudmila Petkova, confirmed that the draft budget for 2025 will target a deficit of no more than 3% of the country's GDP. This assurance was made during a meeting with European Commissioner for Economy Paolo Gentiloni ahead of the Eurogroup meeting, according to a statement from the Ministry of Finance.

Bulgaria's Ministry of Finance is optimistic that the final requirement for joining the Eurozone will be met by December, according to acting Deputy Prime Minister and Minister Lyudmila Petkova. This criterion pertains to inflation, and Bulgaria plans to request a new assessment within two weeks following its fulfillment.

Bulgaria risks losing at least 2 billion leva (1 billion euros) in European funding due to the National Assembly's failure to approve amendments to the Recovery and Sustainability Plan, along with the new chapter and updated roadmap for climate neutrality.

Bulgaria's Prime Minister Dimitar Glavchev has called for a working meeting at the Council of Ministers today, involving Deputy Prime Minister and Minister of Finance Lyudmila Petkova, along with the Ministers of Interior, Environment and Water, Agriculture and Food, Regional Development and Public Works, Economy and Industry, Energy, and Defense.

Bulgaria's upcoming elections have been postponed following President Rumen Radev's refusal to sign the decree for the new caretaker government. This decision means that the elections, initially scheduled for October 20, will be delayed.

Goritsa Grancharova-Kozhareva, appointed by the president as acting prime minister of Bulgaria, continues her consultations with ministers from Dimitar Glavchev's former caretaker government. According to BNR, she has already met with Acting Deputy Prime Minister and Minister of Finance Lyudmila Petkova, who declined to comment.

Acting Deputy Prime Minister and Finance Minister Lyudmila Petkova has raised concerns that Bulgaria might not receive the full second payment of 653 million euros under the Recovery and Resilience Plan (RRP). Petkova shared this warning during a parliamentary hearing, highlighting that several key commitments have yet to be fulfilled.

Bulgarian MPs have called for the accelerated adoption of the euro, but the finance minister explained that this was not feasible. The Committee on Budget and Finance voted on a decision urging the caretaker government to expedite the practical preparations for the euro's adoption in Bulgaria. This draft decision was submitted by Boyko Borissov and several representatives from GERB.

Bulgarian President Rumen Radev has handed the first exploratory mandate to form a government to Rosen Zhelyazkov, the nominee for Prime Minister from the largest parliamentary group, GERB. In accepting the mandate, President Radev emphasized the significant responsibility given the fragmented parliament and low voter turnout, which could impact institutional legitimacy.

Bulgaria is not prepared to introduce the euro on January 1, 2025, as it fails to meet one of the four criteria for eurozone entry—the inflation level. This was highlighted in a report by the European Commission, adopted on Wednesday.