Bulgarian MPs approve motion to send back 2026 Budget package
Bulgaria’s National Assembly approved on December 3 a motion to send back the 2026 Budget package for revision by the Finance Ministry. The motion passed with rare unanimity, with 201 MPs in favour, none opposed and no abstentions.
The draft Budget has prompted wide opposition, with two large-scale protests held last week and on Monday, prompting the Cabinet decision on December 2 to ask Parliament’s approval to withdraw the legislative package.
Parliament’s consent was needed because the Budget package, which includes the state budget and separate social security and health insurance budgets, had been approved at first reading on November 20-21.
The Cabinet will now start a new Budget procedure, but the Finance Ministry has given no indication when the revised package could be tabled.
It does not need to be before the end of 2025, as Bulgaria’s law on public finances allows Parliament to extend the duration of the provisions of this year’s Budget by three months if there is no Budget package approved for 2026.
Under this framework, central and local government could continue to spend within the limits set in 2025 Budget, but not higher than the revenue collected in 2026. Given Bulgaria’s adoption of the euro starting January 1, these limits and revenue (denominated in leva), will have to be converted to euro.
This framework was used in 2023 and 2022, when Budget approval was delayed by political instability that resulted in a series of short-lived Parliaments failed to elect a government.
(Photo: parliament.bg)
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