The parliamentary Budget and Finance Committee has approved the government’s proposal to raise the national debt ceiling to 3.8 billion euros. The measure passed with 13 votes in favor, three against, and five abstentions.
During the discussion, Deputy Prime Minister and Finance Minister Galab Donev defended the proposal, linking the increase to upcoming obligations under already signed Recovery and Resilience Plan contracts, as well as the need to maintain liquidity and ensure access to international financial markets. He stressed that the government aims to keep the budget deficit as low as possible and clarified that the 3.8 billion-euro ceiling represents a maximum limit rather than an automatic borrowing requirement.
“The debt of 3.8 billion euros covers almost 3 percent of the deficit,” Donev told lawmakers, emphasizing that borrowing would be used only if necessary.
Opposition voices in the committee strongly criticized the plan. Vladislav Panev of Democratic Bulgaria rejected the proposal, arguing that the country’s financing needs are significantly lower than the amount requested, and confirmed that his party would also oppose it in plenary. Martin Dimitrov raised concerns over the lack of clarity regarding the deficit outlook, warning that projections appear unstable.
