At the opening of a Council of Ministers meeting, Prime Minister Rumen Radev announced that the European Commission is expected to initiate an excessive deficit procedure against Bulgaria, citing budget figures that exceed the EU’s 3% threshold. He said the formal report is scheduled for June 3 and warned that it could place the country under closer monitoring and potential sanctions.
Radev described the fiscal situation in stark terms, attributing it to previous governance practices. “This year the deficit will be even greater. The bubble has burst,” he said, adding that the situation reflects what he called “populism, incompetence, voluntarism and robbery.” He also said the Ministry of Finance will present a detailed briefing next week on the expected procedure and its implications.
Alongside the warning, Radev highlighted what he presented as a positive development from Brussels: Bulgaria has secured the release of 370 million euros under the Recovery and Resilience Plan. He said the funds were unblocked ahead of the final approval of key legislative changes related to the Anti-Corruption Commission and the Prosecutor General’s reform. According to him, this reflects confidence in the government’s actions and parliamentary progress.
