GERB and WCC-DB in unison on 2023 budget for now
The second meeting between GERB and WCC-DB on the topic of the budget ended today with an understanding that taxes, as well as social costs and salaries, will not change. The two political forces spoke in parliament, where they shared a common approach to the 2023 budget.
In the afternoon, financial experts from GERB and WCC-DB, Temenuzka Petkova and Assen Vassilev announced that there is an option to reduce the budget deficit to 3%, which means they will be rejecting the current proposal of a budget with a deficit of 6.4%, created by the current caretaker government.
No electricity compensation in April
Businesses will not receive compensation for electricity bills for April for the first time in 18 months because the average exchange price of electricity is already below the statutory ceiling of BGN 200/mWh.
The average value on the Bulgarian market until April 28th is BGN 195/mWh. However, the remaining two days of the month are Saturday and Sunday, when the rates usually drop further and it can be assumed that the average value for the whole month will remain below BGN 200. Specifically, for April 27, the price is BGN 139/mWh, the lowest level for the whole of Europe.
In reality, this will be the lowest stock price since July 2021, and accordingly the lowest business rates since then, even after compensations were introduced in October 2021.
ATM Electronics gets acquired by NOTE
The Bulgarian company ATM Electronics, which installs electronic components for customers, is now part of the Swedish NOTE. The deal for the acquisition of the company was signed in mid-April and is worth EUR 3.2 million.
For the Swedish electronics manufacturer, this will be the sixth plant in the world and the second in Eastern Europe, providing it with greater capacity in a growing market. The Bulgarian company expects to significantly increase its turnover once it starts making complete products.