Bulgarian Parliament Unanimously Approves Temporary Budget Bill with 207 Votes in Favor
In an overwhelming display of unity, the Bulgarian Parliament has passed the Temporary Budget Bill for 2025 with 207 votes in favor, at its first reading. The bill, titled "Law on Revenue Collection and Expenditure for 2025 until the Adoption of the State Budget and Budgets of the Social Security Fund (SSF) and the National Health Insurance Fund (NHIF)," was approved without any opposing votes.
The bill, crafted by the caretaker government led by Minister of Finance Lyudmila Petkova, was expedited due to the delayed review of the 2025 state budget and the budgets of the NHIF and SSF by the National Assembly. The bill’s purpose is to ensure the smooth functioning of public finances for the first three months of the year, conforming to the requirements of the Public Finance Act, the Social Security Code, and the Health Insurance Act.
The Temporary Budget Bill stipulates that if revenues for a specific period are insufficient to cover expenditures and transfers, the budgetary limits will be scaled down proportionally. Priority payments, including salaries and social benefits, will be fulfilled in full, with other expenditures adjusted accordingly.
Before the second reading, additional clarifying amendments are expected to be introduced, specifying various budgetary policies from the 2024 budget that are set to continue this year. The size of the minimum wage and the minimum pension will also be included in the bill at this stage.
This approval comes amidst ongoing discussions about the minimum wage and pensions, with recent reports indicating uncertainties surrounding the minimum wage in January 2025.
