Ministry of Finance of the Republic of Bulgaria
- Founded
- 1879-01-01 in Sofia, Bulgaria
- Headquarters
- 102 Rakovski Street, Sofia, Bulgaria
The Ministry of Finance of the Republic of Bulgaria is the central government body steering the country's fiscal policy, budget, and financial regulation. Founded in 1879 under the Tarnovo Constitution, it is one of the oldest ministries of the modern Bulgarian state. The Ministry is responsible for drafting the annual state budget, managing sovereign debt, overseeing tax and customs administration, and regulating financial markets, insurance, pension funds, and gambling through its subordinate agencies. It supervises key institutions including the National Revenue Agency, the Customs Agency, the Bulgarian Development Bank, and the State Commission on Gambling. Beyond domestic fiscal management, the Ministry coordinates the absorption of European Union funds and implements economic reforms under the National Recovery and Resilience Plan. Its financial literacy portal provides public resources on personal finance. The Ministry operates from its headquarters in Sofia and is led by Deputy Prime Minister and Minister of Finance Galab Donev. In 2025, it continued its fiscal consolidation path under the Medium-Term Budget Plan 2025–2028 and played a pivotal role in deploying EU-backed programmes like JEREMIE, which has channelled over €1.6 billion to Bulgarian SMEs.
Detailed Review
History and Founding
Established in 1879 immediately after Bulgaria's liberation from Ottoman rule, the Ministry of Finance was created under the Tarnovo Constitution as one of the first institutions of the Principality of Bulgaria. Its original mandate was to prepare and implement the state budget, and over time it expanded to cover tax administration, customs, financial oversight, and economic regulation.
Organizational Structure and Leadership
The Ministry is headed by a Minister of Finance, currently Galab Donev, who also serves as Deputy Prime Minister. The institution is organized into several directorates handling fiscal policy, state treasury, debt management, financial supervision, and EU funds coordination. The Ministry employs a large professional civil service, though an exact headcount is not publicly released.
Core Functions and Responsibilities
The Ministry's mission is to maintain sustainable and transparent public finances while assisting the government in pursuing its economic and social policy. Core functions include drafting the annual state budget law, monitoring budget execution, managing central government debt, and exercising control over public procurement and internal audit. It sets the regulatory framework for financial markets, insurance, and pension funds, and through the State Commission on Gambling it licenses and supervises all gambling activities.
Supervised Agencies and Platforms
The Ministry oversees several key agencies: the National Revenue Agency collects taxes and social security contributions; the Customs Agency enforces duties and trade controls; the Bulgarian Development Bank provides financing for SMEs and infrastructure; the Public Finance Inspection Agency audits public expenditure; and the Audit of EU Funds Executive Agency verifies EU fund implementation. It also operates the financial literacy portal pfg.bg, offering educational resources on personal finance.
Recent Developments: Fiscal Strategy and EU Funds
In 2025, the Ministry pursued fiscal consolidation under the Medium-Term Budget Plan 2025–2028, targeting improvements in the primary balance. It played a central role in deploying EU funds, including the JEREMIE programme managed by the European Investment Fund, which has channelled over €1.6 billion into Bulgarian SMEs and startups. The Ministry also coordinated the National Recovery and Resilience Plan and engaged with international financial institutions such as the European Investment Bank and OECD.
Key Products
State Commission on Gambling (SCG)
The primary regulatory body for all gambling activities in Bulgaria. Issues licenses, monitors compliance, and enforces the Gambling Act.
National Revenue Agency (NRA)
Collects gambling taxes (including the 15% gross gaming revenue tax on online operators) and corporate taxes from licensed entities.
Customs Agency
Controls import/export of gaming equipment and hardware used in casinos and gaming halls.
Public Finance Inspection Agency
Audits the use of EU funds and national budget resources, including any state subsidies or grants related to gambling regulation.
Financial Literacy Portal (pfg.bg)
An online platform providing educational resources on personal finance, budgeting, and responsible gambling awareness.
Government Debt Management Directorate
Manages Bulgaria’s sovereign debt, which may issue bonds that institutional investors (including gambling operators) can purchase.
State Budget
Annual consolidated budget law covering all government revenues, expenditures, fiscal targets, and medium-term projections.
State Commission on Gambling
Regulatory body under the Ministry responsible for licensing, supervising, and controlling all gambling activities in Bulgaria (both land-based and online).
Bulgarian Development Bank
State-owned development bank (supervised by the Ministry) providing financing for SMEs, infrastructure projects, and export promotion.
Tax Policy & Administration
Framework for personal and corporate income tax, VAT, excise duties, and social security contributions, enforced by the National Revenue Agency.
Government Debt Management
Issuance of domestic and international debt instruments (e.g., Eurobonds) and management of the sovereign debt portfolio.
National Revenue Agency
Collects taxes, social security contributions, and manages the taxpayer registry and enforcement actions.
Audit of EU Funds Executive Agency
Manages the audit and verification of EU structural and investment funds implementation in Bulgaria.
Key Persons
- Tomas Bures
Head of the Gambling Regulation Unit
Galab DonevDeputy Prime Minister & Minister of Finance