At an extraordinary sitting on Sunday (28/10/18) the Bulgarian cabinet adopted the 2019 state budget draft.
Premier Boyko Borissov described the new budget as one of the most-ambitious state budgets since the beginning of the transition from communism to democracy and added that Bulgaria has never been in a better condition before.
Bulgaria’s centre-right government approved a 2019 budget with a fiscal deficit of 0.5 percent of economic output, allocating more funds for public wages, education and European Union-backed projects.
The expenses in 2019 are planned at EUR 22.730 billion, which is EUR 2.607 billion more as compared to 2018.
The growth of the gross domestic product is projected at 3.7% and the average annual inflation is expected to reach 3%.
Unemployment is expected to stand at 4.8%. In other words, the expectations of the government about the development of the country’s economy in 2019 are quite optimistic.
The minimum monthly salary in the EU’s poorest member state, which hopes to bridge the income gap with richer Western Europe, will also see 10 percent hike to 560 levs (US$326).
Political Analysis by Plamen Assenov.
