In brief
Finmin Galab Donev addressed Bulgarians unions and employers in Sofia, announcing a 2027 draft budget that projects a 3.5% GDP deficit, a debt level of 31.4% GDP, and measures to boost revenue collection and curb tax evasion. The plan reflects EU Excessive Deficit Procedure requirements and includes a minimum wage rise to €660. Conflicting figures from a separate source hint at a slightly lower deficit projection of 3.4%.
Finance Minister Galab Donev addressed Bulgaria’s unions and employers in Sofia on 12 November 2027, announcing a 2027 draft budget aimed at restoring fiscal sustainability while safeguarding income support and investment, BTA reports.
The draft budget projects a cash‑basis deficit of 3.5% of GDP in 2027, easing to 3.1% in 2028 and 2.4% in 2029, and expects government debt to reach 31.4% of GDP, or EUR 44.3 billion, that year, according to BTA. The medium‑term forecast also shows total revenue, grants and donations climbing to between 35.6% and 36.1% of GDP over 2027‑2029.
Minister Donev said the programme includes measures to improve revenue collection, prevent tax and social‑security contribution evasion, and reduce the administrative burden for businesses and citizens, BTA quotes.
“Fiscal consolidation requires efforts from all of us, which is why dialogue with you is of key importance,” Donev told the social partners, BTA cites.
The finance minister highlighted that the plan respects the EU’s Excessive Deficit Procedure, noting that corrective measures can still be implemented in 2027, BTA reports.
Unions and employer organisations were present at the emergency meeting, voicing their positions on the budget for 2027, though detailed comments were not released by BTA.
A separate article titled “More spending, more taxes, and stagnant growth” claims the deficit will rise from 2.9% in 2026 to 3.4% in 2027, presenting a slightly lower figure than the 3.5% projected by the BTA report, source stating the increase as the first after four years of reductions.
