Finance Minister Simeon Djankov: Interest on deposits with a 10% tax from January

Interest on deposits will be levied with a 10% tax as of January, Finance Minister Simeon Djankov said after the government approved the draft state budget for next year. Bulgaria remains the only EU country which does not levy a tax on these interest rates, noted Djankov. According to him, budget revenues from these interest rates will be about BGN 120 mln, but the aim of the introduction of this levy is to provide justice, rather than have a financial impact. The damage from the introduction of such a tax would be greater than the potential benefits because it has a negative effect on investments and savings, chief economist of UniCredit Bulbank Kristofor Pavlov commented. If we introduce such a measure, it will result in double taxation of one and the same income, Industry Watch economist Georgi Stoev commented for Klassa.bg.

The economic growth provided in the budget for next year is 1.2%, Finance Minister Simeon Djankov announced. Its main parameters were approved at a meeting of the Tripartite Council late on Tuesday. According to them, the new amount of the minimum wage is BGN 310. The deficit for next year is about BGN 1.1 bn - the same as this year's. In percentage terms, it is less because there will be growth. There are BGN 122 mln of additional funding in education. The minimum pension is BGN 250. The maximum insurable income is also increasing. There is no net increase in the budget of the Ministry of Interior, SANS and NSP.

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