The Bulgarian Industrial Capital Association (BICA) has presented its recommendations for the drafting of the 2027 state budget. The document has been submitted to the Prime Minister, the Ministry of Finance, the National Assembly’s Committee on Budget and Finance, the chairpersons of all parliamentary groups, and the Fiscal Council.
BICA proposes accelerated fiscal consolidation through structural reforms on the expenditure side, without increasing the tax and social security burden and without making across-the-board cuts to productive public investments. Key priorities include the more efficient management of public funds, genuine program-based budgeting, administrative reform, and the allocation of resources toward infrastructure, human capital, and economic growth.
The Association proposes a specific medium-term fiscal target: a deficit of up to 2% of GDP in 2027, up to 1% in 2028, and a balanced budget in 2029—the "2-1-0" formula.
You can read the full text of BICA’s recommendations HERE.
