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The National Assembly adopted the 2021 state budget
26/11/2020
"Times New Roman";mso-bidi-theme-font:minor-bidi">The National Assembly adopted the State Budget Act of the Republic of Bulgaria for 2021 at a second reading.
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"Times New Roman";mso-bidi-theme-font:minor-bidi">The budget provides revenues of BGN 27,051,399,400, expenditures of BGN 15,817,840,100, and budgetary relations (transfers) of BGN 15,268,824,000. GDP growth of 2.5 percent and a deficit of more than BGN 5 billion are set. A buffer of BGN 600 million is foreseen in case the situation with the COVID-19 pandemic deteriorates and leads to the need for emergency provision of resources.
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"Times New Roman";mso-bidi-theme-font:minor-bidi">The adopted provisions in the draft state budget act for 2021 regulate that the tax relief for children under the Income Taxes on Natural Persons Act will be deducted from the annual tax bases of the parents of BGN 4,500 in the case of one minor child, BGN 9,000 in the case of two minor children, and BGN 13,500 in the case of three or more minor children. When using the tax relief for children with disabilities, the amount by which the annual tax bases are reduced will be BGN 9,000.
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"Times New Roman";mso-bidi-theme-font:minor-bidi">The parents of all students enrolled in first and eighth grades will receive a one-time allowance of BGN 300, the Parliament decided. All children enrolled in first and eighth grades, regardless of the income of the family, will be entitled to this allowance.
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"Times New Roman";mso-bidi-theme-font:minor-bidi">The provisions adopted at a second reading also update the 2020 state budget.
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