Finance
News on banks, loans, the state budget, financial institutions, tax policy, and capital markets.
Fiscal Council: Reducing VAT on Fuels is Ineffective
Reducing VAT on fuels will not solve the problem of high prices, but will harm the budget, according to an analysis by the Fiscal Council. They point out that the main reason for the high prices is a global shock in the supply of energy resources.
Increasing the Cash Payment Limit: Benefits for Business and Harmonization with the EU
The Fiscal Council recommends raising the cash payment threshold to 10,000 euros to reduce the administrative burden on businesses, avoid an unfavorable competitive position, and align with European standards.
Government Considers Freezing Toll Fees, Inflation, and the 2026 Budget – Highlights from the Finance Minister's Interview
Minister Klisurski discussed current challenges facing the economy: a potential freeze on toll fees, dependence on fuel prices, preparation of the 2026 budget, and the risk to funds from the Recovery Plan.
BNB Releases Copper Coin for the 150th Anniversary of the Birth of Krastyo Sarafov
The Bulgarian National Bank is putting into circulation a copper collector's coin with a face value of 5 euros, dedicated to the 150th anniversary of the birth of Krastyo Sarafov. The mintage is 6,000 pieces, and the price at release is 36 euros (70.41 leva).
BNB Releases Commemorative Coin in Honor of Krustyo Sarafov: Price, Mintage, and Where to Buy
The Bulgarian National Bank (BNB) is releasing a commemorative coin dedicated to the 150th anniversary of the birth of Krustyo Sarafov. The coin, part of the "Bulgarian Creators" series, has a face value of 5 euros and a mintage of 6,000 pieces. The price is 36 euros. Discover details about the design, where and how to purchase it.
The bill on the extension of the budget was adopted at the second reading in the Committee on Budget and Finance
At the second reading, the Committee on Budget and Finance approved the bill on the extension of the budget, highlighting the risks associated with using this tool for tax policies. The proposals include financial mechanisms for municipalities, guarantees for gas infrastructure, and data exchange between banks and NAP.
Budget and Finance Committee to Hold Extraordinary Meeting Today
At the meeting scheduled for 14:00, a bill amending and supplementing the extension of the budget law will be considered. The aim is to extend its validity until the adoption of the regular State Budget Law for 2026.
The Transition to the Euro: Latest Data on Exchange, Counterfeit Banknotes, and Prices
The Chairman of the Coordination Center for the Euro Mechanism, Vladimir Ivanov, reported the latest data on the process of transition to the euro, the exchange of levs, counterfeit banknotes, and prices of goods. 89% of levs have been withdrawn, and inspections show compliance with the law by merchants.
Euro Falls to Lowest Level Since August Amid Strong Dollar and Middle East Turmoil
The euro weakens due to the strengthening of the dollar, high oil prices, and the escalating conflict in the Middle East. The currency reached its lowest level since August of last year.
Caretaker Government Aims for Fourth RRF Payment by June/July
The caretaker government is working hard with the EC to submit a request for the fourth RRF payment. A maximum of 900 million euros is expected. Deductions due to the lack of an accountability mechanism and independent members in the anti-corruption commission. Emphasis on draft laws to secure funds.
Budget and Finance Committee Adopts Rules for the Election of a BNB Deputy Governor
The Budget and Finance Committee approved procedural rules for the election of a deputy governor in charge of 'Emissions' at the BNB. The decision drew criticism from the opposition, which believes that the election should be held by the next parliament and that there should be more time for debate.
Temenuzhka Petkova: We Leave the Caretaker Government Stable Public Finances
The outgoing Finance Minister Temenuzhka Petkova handed over the post to Georgi Klisurski. She reported stable public finances, fulfilled criteria for the Eurozone, and revenue growth.
BNB: Over 7.2 Billion Euros in Circulation, Over 84% of Levs Withdrawn
As of February 16, 4.8 billion leva remained outside the BNB's cash registers, representing 84.5% of the leva withdrawn from circulation by the beginning of 2025. Euro banknotes and euro coins with a total value of over 7.2 billion euros have been put into circulation. The exchange of leva continues.
How the Introduction of the Euro is Progressing in Bulgaria: BNB Assessment and Perspectives
BNB Governor Dimitar Radev presented an assessment of the introduction of the euro in Bulgaria. The transition is proceeding without deviations from initial expectations, with inflation remaining within the Eurozone. Radev emphasizes the importance of the institutional framework, consistent policies, and long-term commitment for successful integration.
The Transition to the Euro is Going Smoothly: Commentary by Vladimir Ivanov
Vladimir Ivanov, Chairman of the DKSTB and the Coordination Center for the Euro Mechanism, comments on the smooth transition to the euro, citing data on withdrawn leva and issued euros.