Draft 2015 National Budget: 3% Deficit and Increase of Retirement Age


Sofia, November 26 (BTA) – The Finance Ministry Wednesday unveiled a draft 2015 national budget. It says the budget framework is based on conservative forecasts for the key macroeconomic indicators, realistic revenue estimates and restrictive expenditure planning.
The budget parameters are consistent with the changed macroeconomic environment and take into account the effects of the revisions to the 2014 budget which passed conclusively in Parliament earlier the same day.
The budget aims to eliminate the factors that have caused the worsened budget position in 2014 and bring budget deficit within the 3 per cent target already in 2015.
The budget deficit is projected at 3 per cent of GDP in 2015, 2.5 per cent in 2016 and 2 per cent in 2017.MORE