Bulgaria’s deteriorating fiscal outlook has drawn the attention of the international financial press, with the Financial Times reporting that the country is expected to face an excessive deficit procedure from the European Union as early as next week. The newspaper notes that the move would come only months after Bulgaria joined the eurozone, highlighting concerns over the country’s public finances.

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…

Former Finance Minister Asen Vassilev said Bulgaria’s current fiscal situation was predictable, arguing that warnings about breaching the deficit threshold were ignored during the…