Bulgaria’s Deputy Prime Minister and Minister of Finance Assen Vassilev presented the 2022 draft state budget. He called it a budget of economic growth, which invests in people, projects and infrastructure. The projected revenues exceed EUR 29 billion and costs are projected at more than EUR 32.2 billion.
The country’s GDP is expected to increase with 4.8% and the budget deficit is set to increase with 4.1%. Bulgaria will borrow new loans to the tune of EUR 3.5 billion. EUR 1.5 billion will be used to refinance old debts.
As of April 1, the minimum monthly salary will increase from EUR 323 to EUR 363. Pensions will increase with 6.1% from July 1. VAT remains unchanged at 20%, Minister Vassilev said. The state budget will be amended in July.