Bulgaria will not be able to avoid the excessive deficit procedure that the European Commission is preparing to launch, Deputy Prime Minister and Finance Minister Galab Donev told lawmakers during parliamentary oversight in the National Assembly.
According to Donev, it has become clear that Brussels will move forward with the procedure because of Bulgaria’s net spending levels in 2025. “This procedure cannot be avoided,” he stated, warning that the country will now be required to take corrective action to bring public finances back within acceptable limits.
The finance minister again criticized the previous caretaker administration, arguing that it had failed to submit a report on the condition of the state’s public finances this year. He explained that the European Commission is expected to demand a package of measures aimed at reducing the budget deficit, including limiting expenditures and cutting net spending by 0.5% of GDP.
Addressing parliament, Donev urged all political parties to work together on a solution. “We will all have to bear responsibility before society for the financial situation of the state,” he said.
During the debate, lawmakers questioned the government about its plans for the 2026 budget. Donev replied that the cabinet intends to submit the draft budget for discussion and approval by the end of the month.
