The Ministry of Finance has sent to the authorities in Brussels the updated National Reform Programme and Convergence Programme 2019 – 2022 adopted by the Council of Ministers. The Country Report Bulgaria 2019, together with the documents launching the European Semester, has served as a starting point for the preparation of the two strategic papers.

The National Reform Programme focuses on the implementation of the measures addressing the CSRs of the Council for 2018 and the gaps identified in the Country Report Bulgaria 2019. It also reviews the progress made in the implementation of the national targets under the Europe 2020 strategy and presents a set of measures in policy areas contributing to enhancing the competitiveness of the economy and a short description of the government’s investment strategy aimed at addressing the shortage of investment in key growth areas.

The Convergence Programme takes account of the government’s priorities of adhering to a fiscal policy ensuring long-term public finance sustainability and effective targeting of public expenditures towards activities that accelerate the economic growth.

In order to achieve a balanced growth, sustainable convergence and higher living standards, the Bulgarian authorities will persist in their efforts to remove the barriers to private sector investment activity, improve the quality of public goods and services, investment in infrastructure, increase the funding in areas such as education, healthcare and social protection, improve the efficiency and effectiveness of public administration. Tax policy remains predictable while at the same time oriented towards promoting business development and investment activity by retaining the low tax rates for direct taxes, a broad tax base and a limited number of tax preferences. The government will continue its policies to improve tax collection and the fight against shadow economy and undeclared work.