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Bulgaria Installs Debt Brake
The Bulgarian Ministry of Finance prepared a new Public Finances Act. The budget deficit must not exceed 2.0% of GDP.
Bulgaria Installs Debt Brake / Picture: © Vindobona.org
The Bulgarian government sharpens its austerity measures. The Public Finances act should bring Bulgaria´s legal situation in line with the EU requirements.
In order to slow down the increase in public debt, the budget deficit is limited to 2.0% of GDP. However, if the EU-standards are being applied, the budget deficit may reach up to 3.0% of GDP. Moreover, the public expense…
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