site.btaToo Early to Assess 2025 State Budget Performance, National Revenue Agency Director Spetsov Says

In an interview with Bulgarian National Television on Saturday, Rumen Spetsov, Executive Director of the National Revenue Agency (NRA), said it is too early to draw conclusions about the performance of Bulgaria’s 2025 state budget, but described himself as a "moderate optimist".

Spetsov noted that the revenue-side measures in the budget will be in effect for only six months of 2025, not the full year. He emphasized the influence of multiple factors, including political developments, and assured that the NRA will do everything possible to meet its targets.

So far, tax revenue is increasing across all categories, which Spetsov attributes to economic growth and reduced levels of shadow economy activity. He stressed that no manipulation exists in the revenue data reported by the agency.

Asked about potential tax hikes, Spetsov said current plans are being met without rate changes, and any discussions about increases should wait until year’s end. He also rejected accusations of unequal treatment of businesses, stating the NRA applies the rules equally, although large businesses face stricter regulation and scrutiny.

Spetsov identified the construction sector and related industries as the most vulnerable to undeclared economic activity. He added that realistic budget performance data would be available by October, and it's too soon to discuss a budget revision.