In brief
In Sofia, Finance Minister Galab Donev outlined a 2027 budget that projects a 3.5% GDP deficit and a 31.4% debt level, while pledging to maintain income support and investment. The plan focuses on improved revenue collection, anti‑tax‑evasion measures, and reduced administrative costs, as part of a broader strategy to meet EU Excessive Deficit Procedure guidelines.
Finance Minister Galab Donev addressed employer and union groups in Sofia on 12 November, announcing Bulgaria’s 2027 budget aimed at restoring fiscal sustainability while safeguarding income support and investment.
Donev said the draft budget targets a 3.5% of GDP cash‑basis deficit in 2027, narrowing to 3.1% in 2028 and 2.4% in 2029, while the consolidated fiscal programme’s total revenue, grants and donations are projected to range between 35.6% and 36.1% of GDP over 2027‑2029. Expenditure is expected to fall from 43.5% of GDP in 2026 to 39.6% in 2027, then to 38.9% in 2028 and 38% in 2029.
The government will borrow up to EUR 8.6 billion, with debt projected at EUR 44.3 billion (31.4% of GDP) in 2027 and a minimum fiscal reserve of EUR 2.6 billion at year‑end. The minimum monthly wage will rise to EUR 660 in 2027.
"Fiscal consolidation requires efforts from all of us, which is why dialogue with you is of key importance," said Donev.
Donev also highlighted measures to improve revenue collection, curb tax and social‑security contribution evasion, and cut administrative burdens for businesses and citizens. He noted the EU Council’s excessive deficit procedure against Bulgaria, stressing that the 2027‑2029 framework takes the procedure and the EU’s stabilisation recommendations into account to allow corrective measures this year.
