Bulgaria's Budget Committee Approves Interim Finance Bill for 2025

The Budget and Finance Committee of Bulgaria's 51st National Assembly unanimously approved a draft law on Tuesday to address the public finance gap until the passage of the three main budget laws for 2025. The legislation aims to maintain financial stability while bridging the gap caused by the absence of an adopted state budget.

The bill, proposed by the caretaker Cabinet, allows for the collection of revenues and commitment of expenditures based on existing parameters from 2024. Deputy Prime Minister and Finance Minister Lyudmila Petkova emphasized the Cabinet's commitment to financial stability and the need for swift parliamentary action to prevent delays that could harm revenue collection, CE Report quotes BTA

Budget Committee Chair Assen Vassilev (Continue the Change - Democratic Bulgaria) stressed the urgency of passing the bill quickly, noting that prolonged delays could leave the country without a functioning budget until August if early elections are held.

Opposition members, including Margarita Petkova (GERB-UDF), called for the election of a regular government with a clear political profile to ensure responsibility and stability. The Finance Minister confirmed that the temporary law would be effective for up to three months and could be extended only under specific legal provisions.

Employer and trade union representatives urged the rapid adoption of a regular budget law and proposed amendments to the interim legislation for consideration in the next committee stage. The bill prioritizes expenditures on wages and welfare payments and empowers the Council of Ministers to allocate resources for critical capital and other expenditures.

This temporary measure underscores the pressing need for a fully adopted budget to safeguard Bulgaria’s financial and social stability.