Bulgaria Risks Excessive Deficit Procedure, Former Deputy Minister Warns

Financier and former Deputy Finance Minister Lyudmila Elkova has warned that Bulgaria risks entering an excessive deficit procedure, arguing that the country’s fiscal situation is becoming increasingly difficult and may require painful political decisions in the coming years. Speaking to Bulgarian National Radio, Elkova said opportunities to reduce the deficit during the current year are limited because many of the necessary steps would require legislative changes and measures likely to create social tension. According to her, the danger of the budget deficit exceeding the European threshold of 3% by the end of 2026 is entirely realistic. ...