29.10.2026
Bulgaria is pursuing a policy aimed at reducing its budget deficit by 2027, while ensuring that the necessary fiscal consolidation takes due account of its implications for the social sphere and the economy, Prime Minister Rumen Radev stated at a meeting with European Commissioner for Budget Piotr Serafin.
Prime Minister Rumen Radev met with Piotr Serafin, European Commissioner for Budget, Anti-Fraud and Public Administration, ahead of the upcoming discussions on the European Union’s Multiannual Financial Framework (MFF) for the 2028–2034 period.
During the meeting, Prime Minister Radev underscored the importance of preserving the role and financial capacity of the EU’s Cohesion Policy and Common Agricultural Policy, given their contribution to strengthening economic and social cohesion, ensuring food security and enhancing the competitiveness of the Union as a whole.
The Prime Minister also stressed that the proposed new own resources of the EU must be subject to a thorough assessment, particularly in terms of their implications for Member States’ national budgets. He noted that the scale and scope of these resources should be carefully considered in the context of the MFF negotiations, taking into account the different fiscal circumstances of Member States, including countries such as Bulgaria, which is currently subject to an excessive deficit procedure.
In this regard, Radev highlighted Bulgaria’s commitment to bringing its budget deficit down by 2027, while ensuring that the measures undertaken do not disproportionately affect the social sphere or undermine economic growth.
The Prime Minister further pointed out that the increasingly complex international security environment calls for due consideration of the need to strengthen the EU’s defence financing. Deputy Prime Minister and Minister of Finance Galab Donev and Deputy Prime Minister Atanas Pekanov also attended the meeting.
