English
Bulgaria intends to reduce the value-added tax (VAT) from 20 per cent to 16 per cent by the end of the term of the current Government, stated Bulgarian Finance Minister Simeon Djankov. He explained that the country was facing budget imbalance, as spending had decreased significantly in health services and education, compared to other Members of the European Union.
Simeon Djankov promised the medical staff a 50 per cent salary raise in 2010 and stressed that he would soon present Prime Minister Boiko Borissov with an action plan to reform the Bulgarian health care system.
The Bulgarian Government announced it did not contemplate additional cuts in administrative costs, after having recently decided to have all ministries and governmental agencies cut 15 per cent of the spending planned until the end of the year to generate total savings of 1.2 billion BGN. The decision does not apply to the Ministries of Education, Justice and Internal Affairs.
The Bulgarian Government will focus its efforts on increasing revenue, by improving tax collection and fighting contraband, thus hoping to generate an additional 1.3 billion BGN.
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