11.03.2025

The Minister of Finance Temenuzhka Petkova took part in the regular monthly meeting of the Economic and Financial Affairs Council of the EU (ECOFIN) held in Brussels today.

The European Commission presented the two omnibus packages that will contribute to reducing the administrative burden. Minister Petkova supported the Commission’s efforts to simplify the sustainability reporting framework so as to strike a better balance between climate goals and business competitiveness. Bulgaria supported measures for limiting the unjustified regulatory, financial and administrative burden both on small and medium-sized enterprises and on national competent authorities. The Commission’s intentions to introduce the so-called ‘de minimis’ threshold and measures to facilitate reporting and compliance are positive steps.

At the same time, Bulgaria identifies the need for further efforts to strengthen measures against potential abuses and especially the instruments providing guarantees for the reliability of the data reported by the contributors.

Minister Petkova supported the proposal for simplification and streamlining of the use of investment programmes, including InvestEU, the European Sustainable Development Fund plus and other financial instruments.

The Council reached an agreement on the directive on administrative cooperation in taxation (DAC9) and adopted implementing decisions approving the modified recovery and resilience plans of Belgium and Ireland.