site.btaParliament Adopts Revised Budget Framework

Parliament adopted Thursday the revised budget framework. Revenue, aid and donations are set at BGN 34,112,529,300, up by BGN 760 million from the BGN 33,352,529,300 proposed by the government.  The expenditure voted stands at BGN 21,171,354,700, compared to the initial figure of BGN 20,411,354,700, continuing a balanced budget.

The government debt's ceiling is increased from BGN 7.3 billion to BGN 10.3 billion.

The revised budget will also provide BGN 173 million for a 20% raise of Interior Ministry staff salaries as of July 1, as well as BGN 150 million for salaries in education and upkeep of kindergartens. 

Also, a total of BGN 20 million will be used to increase subsidies for education costs at state universities and an additional BGN 1,400,000 were approved for libraries and stage arts.

The revised budget includes BGN 30,000,000 for raising municipal administration salaries and BGN 100,000,000 for municipal capital expenditures.

The sum of BGN 26,000,000 is designed to cover six-month bonuses of employees of the Social Assistance Agency, the Employment Agency and the Chief Labour Inspectorate in connection with work in hazardous conditions and overtime to contain the COVID-19 pandemic.

Parliament also approved the sum of BGN 1,180,000 for raising remunerations of National Assembly staff, at the expense of savings.

Financial support for public transport is set at BGN 110,000,000, including BGN 74,000,000 for Sofia’s urban transport, BGN 16,500,000 – for other municipalities, and BGN 20,000,000 – for inter-settlement routes.

Within the current budget, the National Assembly also authorized the Council of Ministers to approve state guarantees as follows: for new loan agreements of Bulgargaz in the amount of EUR 150 million in keeping with state aid legislation; for new loan agreements of Bulgartransgaz in the amount of EUR 382 million in keeping with state aid legislation. The new state guarantees may not exceed BGN 1,800,100,000.

Parliament obligated the Government to take action to raise the capital of Fond FLAG EAD, Sofia 100% state-owned company within the system of the Ministry of regional Development and Public Works by a cash contribution of BGN 50,000,000 in new shares. 

A similar step to raise the capital was taken for Bulgarian Posts to the sum of BGN 45 million.