site.btaUPDATED Prime Minister Radev: Deficit Cannot Drop Sharply to 3%

Prime Minister Rumen Radev told reporters on Friday in response to a question about criticism of the 2026 draft budget, which was published by the Ministry of Finance on Wednesday that the government had consulted leading economists who say there’s no way the deficit could drop sharply from 7.5% to 3% in just a few months.

"I see a pattern here - those who bear the greatest responsibility for this deficit and for the state of public finances are the ones shouting the loudest and, in fact, speaking out against their own budget," Radev added. According to him, this is the budget of those who are now criticizing the proposed budget.

"We are, in fact, continuing their policies and, as far as we can, trying to make up for everything that has accumulated over the past five years," Radev added.

Radev spoke to journalists after his meeting with Bulgarian Patriarch and Metropolitan of Sofia Daniil.

Speaking about the budget, Radev said he had met with stockbreeders. "They are struggling to survive, and the dairy industry is dying," he said. According to him they are thinking about the mass slaughter of the animals they breed, Radev said. "We’ll be left without Bulgarian milk," he warned.

Radev explained that the Finance Ministry will allocate "170 million for aid, otherwise, this sector will die".

"We have over 60 million in incentives for investors," Radev added. "We cannot send the wrong signals to investors," he said. The completion of municipal projects is the other important sphere that needs the government’s support, Radev noted.

Regarding the planned protest by the Podkrepa Confederation of Labour over the plan for civil servants to begin paying their own social security contributions, Radev stated that he had heard opinions that this “is in the interest of civil servants”. Because starting in 2028, they will be insured based on higher salaries, "What does that mean?" he said. "They will have higher pensions and higher benefits," Radev added. "I think a very balanced approach has been achieved," he noted. In his words, there is also fairness, because there will be no reduction in civil servants’ incomes.

"This is a budget grounded in reality, everything is laid out on the table," Radev said, adding there will be no manipulation. "With sensible policies, we will achieve a budget of 3% or less within the set timeframe," he said. According to him, "all absurd expenditures" going to party "black cashboxes" and oligarchs will also be cut. "It’s clear who they are, but they have many intermediaries, those oligarchs," Radev replied when asked who were the people he was referring to.