Bulgaria’s Caretaker Govt Approves Draft Update of Budget 2014

Bulgaria’s Caretaker Govt Approves Draft Update of Budget 2014

Bulgaria’s caretaker government has approved a draft budget update.
The proposal for the update of Budget 2014 was discussed with representatives of employer organizations and trade unions Wednesday morning but they refused to back the measure, according to reports of the Bulgarian National Radio.
The resources are to cover the shortage of funds to pay salaries at the Interior Ministry and the deficit in the spheres of social benefits, emergency medical services, and psychiatric hospitals.
The budget deficit is to reach 4% of GDP on a cash basis, taking into account the impact of measures aimed at boosting revenue collection.
New government debt of up to 4.5 billion levs is to provide a reliable buffer.
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