The Cabinet of Ministers has adopted a number of resolutions to reform the state reserve system. Prime Minister Denys Shmyhal announced this during an offsite meeting of the Government in Mykolaiv on September 26. “A new respective law has been adopted, which provides for a fundamental change in approaches in this area. Changes are based…
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. Acting Deputy Prime Minister and Finance Minister Lyudmila Petkova warned at a media briefing following…
The Ministry of Finance is working on a budget with a deficit of up to 3% on an accrued basis, the Deputy Minister Martin Danovski has confirmed. This figure aligns with the Maastricht Treaty criteria, which is essential for Bulgaria’s entry into the Eurozone. When asked about the clarity on the main financial parameters for…
Despite the tough wartime conditions, farmers in Mykolaiv region made more agricultural products over 7 months of this year than last year. This was announced by Prime Minister Denys Shmyhal during an offsite Government meeting on September 26. “Farmers of the region successfully use state support programmes. Since the beginning of the year, they have…
On September 24, the Ministry of Finance raised UAH 17.784 billion to the state budget at an auction for the placement of domestic government bonds. The Ministry of Finance offered investors hryvnia-denominated domestic government bonds: UAH 109 million at 14.62% with 1.1-year maturity, UAH 6.124 billion at 15.59% with 2-year maturity and UAH 4.972 billion…
The European Bank for Reconstruction and Development (EBRD) has revised its growth forecast for Bulgaria’s economy for the upcoming two years. The bank now expects a slowdown of 0.4% this year, predicting a growth rate of 2.2%, down from previous estimates. Looking ahead to next year, the EBRD has adjusted its projection from 3% to…
As recession-hit Estonia seeks to boost defence funding with plans to raise value-added, income and corporate taxes, Lithuanian businesses and economists say Lithuania has a chance to increase its competitive position in the region, if it maintains the stability of its tax system. Lithuanian Finance Minister Gintare Skaiste believes that Estonia’s tax changes will have…