Bulgarian Prime Minister Rumen Radev said that the government is working to reduce the budget deficit to an acceptable level and further reduce it in 2027.
Making statements to journalists in Paris, the capital of France, Radev evaluated the budget deficit debates in Bulgaria.
Stating that the country's current budget deficit was inherited from previous governments, Radev said, "We are doing our best to reduce the budget deficit to an acceptable level this year and further reduce it in 2027." he said.???????
Noting that the excessive budget deficit procedure initiated by the European Union (EU) Council regarding Bulgaria is a standard mechanism, Radev reminded that this had previously been applied to many member countries.
EU fiscal rules limit member countries' public deficits and debts. Under normal circumstances, budget deficits of member countries should not exceed 3 percent of gross domestic product (GDP) and public debts should not exceed 60 percent of GDP.
The excessive budget deficit procedure is implemented to ensure that member countries that violate these rules return to fiscal discipline.