"Economic Policy Review" Bulletin ISSN 1313 - 0544

22.12.2022

It has been a while since the passing of the Bulgarian National Recovery and Resilience Plan (NRRP) but the prospects of it being completed seem grim. The late submission of the final version of the plan, the missing of the first advance payment, and the late reports on the achieved results regarding the first payment are just the first signals that the financing and implementation of the Plan will not go smoothly. Without a clear strategy and focused efforts on tackling the ever-rising risks, it is unlikely that the country will succeed in completing this task.

Rising interest rates are holding budgetary illusions down

30.09.2022
Тhe finance minister’s recent words of caution on the topic of the worrisome upward trajectory of budget deficits in the period 2023-2024 have sparked many ideological debates. Yet, the last issue of government debt shifted the discussion and gave signals that politicians must comprehend well, especially given that they are once again pleading for the support of the citizens, and more specifically - the private sector and households.

Alternative option for the temporary removal of the Prosecutor-General

31.05.2022
One of the goals ingrained in the National Recovery and Resilience Plan (NRRP) is the introduction of an effective mechanism for seeking responsibility of the Prosecutor-General and his deputies by creating guarantees for the practical, institutional and hierarchical independence of a prosecution directed at them.

Some disputable points relating to the proposed excise duties on tobacco products

Petar Ganev / 25.11.2022
This week the Parliamentary Budget Committee adopted at first reading amendments to the tobacco excise duties. Essentially the amendments proposed by the Ministry of Finance provide for the establishment of an excise tax calendar for the period 2023-2026 laying down the increases of all tobacco excise duties – on cigarettes, fine-cut smoking tobacco, heated tobacco products and e-cigarettes.

No success without integration – emergency aid in the recovery plan

29.07.2022
The emergency care system in Bulgaria plays a key role in ensuring quick and effective access to healthcare for people with life-threatening conditions. It currently faces several issues - obstructed access due to geographic obstacles, a declining number of specialists, poor road infrastructure, heavy traffic, etc. At the same time, Bulgaria can now utilize funds from the Recovery and Resilience Mechanism and therefore address these issues and speed up the development of emergency care.

The new budget for state investment

29.04.2022
The state’s investment budget: thus, could the National Recovery and Resilience Plan be simply described, through which the country will receive 6.3 billion Euro in the next few years. Of course, the national budget has a bigger weight and would continue to be the basis of public policy but a few peculiarities of the new plan deserve attention. Traditionally, the state budget has enormous inertia and little space for new ideas, policies and investments. The expenses on the consolidated fiscal program for 2021 are approximately 55 billion leva, of which only 3.8 billion leva are capital ones. Half of the investments are financed with European funds so they depend on the phases of execution of the operative programs, rather than the classic budget process.