Deputy Prime Minister and Finance Minister Galab Donev
Deputy Prime Minister and Finance Minister Galab Donev has warned that Bulgaria’s public finances are facing a significantly worse-than-expected position, citing a projected deficit of 7.4% if no policy changes are made, along with additional unpaid obligations worth 2.2 billion euros.
Speaking at a briefing at the Council of Ministers, Donev said the figures amount to more than 1.5 billion euros in deficit under current policies, while also highlighting what he described as “hidden” liabilities in the form of delayed payments carried over from previous years.
He argued that these accumulated obligations include already invoiced but unpaid expenditures, particularly related to infrastructure projects of the Road Infrastructure Agency and municipal programs listed under the state budget annexes. According to him, these delayed payments have only now become visible after the change in government.
Donev also warned that an Excessive Deficit Procedure by the European Commission is a “foreseeable scenario,” adding that the caretaker government failed to submit Bulgaria’s annual report on the implementation of its 2025–2028 fiscal and structural plan, which he said would affect how Brussels assesses the country’s situation.
