Former caretaker Finance Minister and current Deputy Mayor of Sofia Georgi Klisurski has argued that Bulgaria is not currently subject to an excessive deficit procedure and still has sufficient room to avoid one if the government takes the necessary fiscal measures.
According to Klisurski, the officially validated deficit for 2024 stands at 3%, as confirmed by Eurostat, allowing Bulgaria to meet one of the key requirements for eurozone membership. He noted that while the projected deficit for 2025 is 3.5%, the application of the EU’s defense spending exemption could bring the figure back within the 3% threshold.
Klisurski stressed that the European Commission’s concerns are focused primarily on the years ahead rather than the current budget cycle. “The Commission forecasts a deficit of around 4% in both 2026 and 2027 if current policies continue and no corrective measures are adopted,” he said.
In his view, the government still has the capacity to prevent the launch of a formal procedure. He accused the cabinet of preparing the public for additional borrowing and insisted that a properly structured budget could eliminate the risk altogether. “The government has all the instruments necessary to draft a budget that would stop such a procedure from even being initiated,” he argued.
