Finance Minister, European Commissioner Dombrovskis discuss upcoming fiscal consolidation
Baku, May 25, AZERTAC
The Bulgarian government's measures and actions regarding the upcoming fiscal consolidation were discussed at a meeting between Bulgaria's Deputy Prime Minister and Minister of Finance, Galab Donev, and the European Commissioner for Economy and Productivity, Valdis Dombrovskis, that took place in Nicosia, the Bulgarian News Agency reported citing the Ministry of Finance. Donev participated in an informal meeting of the Economic and Financial Affairs Council (Ecofin) and in a meeting of the Eurogroup, held on May 22 and 23, 2026, in the Cypriot capital
Donev also held a bilateral meeting with Eurogroup President Kyriakos Pierrakakis. During these meetings, Bulgaria was congratulated on its successful accession to the eurozone. Donev presented his views on the main challenges facing the EU in the context of global economic challenges, as well as the measures and actions taken by the Bulgarian government in view of the upcoming fiscal consolidation. He discussed the progress made so far in implementing the National Recovery and Resilience Plan and the next steps toward its completion.
Dombrovskis stated that the European Commission expects to receive Bulgaria's draft budget for 2026 and the updated medium-term forecast shortly, and encouraged the Bulgarian authorities to take bold and sustainable measures to ensure successful fiscal consolidation. The regular budget for 2026 is expected to be adopted by July 1, Donev said at a media briefing in Sofia on May 18.
During the Ecofin and Eurogroup meetings, ministers exchanged views on the urgent need to strengthen the EU's competitiveness in light of recent geopolitical developments. The Council also discussed the key characteristics and economic functions of stablecoins, as well as the challenges associated with them.
The agenda also included ways Europe can meet its growing spending needs without undermining long-term fiscal sustainability. Eurogroup members shared views and experiences on the main economic challenges and policy options related to affordable housing.
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