📋 Tender Overview
The mission of the Ministry of Finance is to maintain sustainable and transparent public finances of the country. This was the reason why I presented a week ago the objective picture and the challenges facing us as a society. We must not forget the hard lessons learned from the past and frivolously squander the countrys hard-won financial stability. Fiscal discipline does not necessarily mean cutting spending on social policies. On the contrary. This means providing properly targeted tools flexibility and avoiding the risks caused by the economic crisis - this is what the Minister of Finance Rositsa Velkova said in an interview with the 24 Chasa newspaper.With regard to the tax policy of the official cabinet she commented that only changes will be proposed in the tax legislative package that derive from European directives and which we are obliged to introduce in our legislation. With the development of a basic budget for 2023 we and the Ministry of Finance team will develop different scenarios that we will value both in terms of revenues - without changing the current tax model and in terms of the expenditure part - explains Minister Velkova.To a question about the pension system the Minister of Finance replied that with the updated Law on the Budget of Public Enterprises for 2022 the additional transfer from the state budget to cover the shortfall amounts to BGN 8.3 billion. Our accounts show that in the next three years about half of the expenses for pensions for labor activity from the state social insurance will be financed with a transfer from the state budget to cover the shortfall from the income from insurance contributions says Velkova. According to the minister this shows a huge distortion in the principles on which every pension system is built namely that the income from the pension of each one should correspond to his insurance contribution.
