Bulgaria Faces 3 Billion Leva Shortfall in 2024 Budget Due to Unspent Recovery Funds

Bulgaria’s Ministry of Finance has decided to abandon the proposed tax on subsoil resources, according to Acting Deputy Prime Minister and Minister of Finance, Lyudmila Petkova. During a parliamentary blitz control, Petkova explained that the Minister of Energy would increase concession fees to compensate, at least partially, for the anticipated revenue loss. Additionally, a one-time fee will be introduced for mining companies, and part of the revenues will be derived from Bulgaria’s expected accession to Schengen.

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