On today's date – December 5, 2025 – representatives of the ruling party, trade unions, and employers are gathering for a key meeting at the Ministry of Finance. The goal is to discuss the financial framework for the second draft budget, calculated in euros.
The meeting comes after the large-scale protests on December 1, which forced the cabinet to withdraw the initial version of the budget. They are certainly reviewing some of the most controversial points that caused public discontent.
Review of Key Points
At the center of the debates are the controversial financial issues. These include funds for a possible purchase of Lukoil's refinery in Burgas, the concession of the state lottery, the planned increase in the social security contribution for pensions, and the double increase in the tax on dividends. The requirement for traders to use software approved by the NRA (National Revenue Agency) to report their sales is also removed.
Businesses have already made proposals to the government to save funds exceeding 2 billion euros. This would help keep the budget deficit for 2026 within the 3% limit without having to raise taxes.
Alternative Proposals
It is interesting to note that former Finance Minister Asen Vasilev also prepared an alternative budget before the withdrawal of the initial project. This version provoked mass protests.
At the moment, no parameters for the new budget have been officially announced. Economists have expressed the opinion that the eventual non-adoption of a budget by January 1 will not prevent Bulgaria's entry into the Eurozone. This is a crucial moment.
Back in the Game
According to Asen Vasilev, "The government should not hide in the violets, but should explain the budget or rework it".
We await new developments on the topic, as the ruling party tries to align the financial plans with public opinion.