In brief
On 12 November 2027, Finance Minister Galab Donev met with Bulgaria’s union and employer groups to present a 2027 budget that aims to reduce the deficit to 3.5 % of GDP while safeguarding income support and investment. The plan includes tighter revenue collection, anti‑tax evasion measures and lower administrative costs. Fiscal consolidation is guided by EU Excessive Deficit Procedure, with debt moving to 31.4 % of GDP and a projected minimum monthly wage of 660 EUR.
On 12 November 2027, Finance Minister Galab Donev held an emergency meeting with Bulgarian union and employer groups in Sofia to launch a draft 2027 state budget that seeks fiscal sustainability while keeping income support intact.
Donev said the budget would tighten the deficit to 3.5 % of GDP in 2027, falling to 3.1 % in 2028 and 2.4 % in 2029. He outlined measures to improve revenue collection, stop tax and social‑security evasion, and cut administrative costs for businesses and citizens.
"To achieve this, the budget provides for measures to improve revenue collection, prevent tax and social security contribution evasion and non‑payment, and reduce the administrative burden and costs for businesses and citizens," Donev told the social partners.
The plan projects total revenue, grants and donations between 35.6 % and 36.1 % of GDP for 2027‑2029, while consolidated fiscal programme spending drops from 43.5 % of GDP in 2026 to 39.6 % in 2027, 38.9 % in 2028 and 38 % in 2029.
Debt is expected to reach 44.3 billion €—31.4 % of GDP—in 2027, with new borrowing capped at 8.6 billion € and a minimum fiscal reserve of 2.6 billion € at year‑end. A minimum monthly wage of 660 € for 2027 is also maintained.
The finance plan comes under EU Oversight, with Bulgaria in the Excessive Deficit Procedure. The Treasury cited the procedure’s recommendations for medium‑term consolidation as part of its framework.
Additional commentary from la sicilia notes a slight difference, reporting the 2027 deficit at 3.4 % of GDP, the first rise after four years of reductions. The discrepancy does not alter the overall goal of fiscal tightening.
