The European Commission (EC) has confirmed its intention to initiate a procedure for excessive deficit against Bulgaria. This announcement followed a meeting of EU finance ministers in Luxembourg on Friday, as stated by Economic Commissioner Valdis Dombrovskis. The procedure is triggered by concerns over Bulgaria’s budgetary situation and potential breaches of EU fiscal rules. This action signals increased scrutiny of Bulgaria’s public finances by the European Union. The EC’s proposal will now be discussed among member states. Further steps and potential consequences for Bulgaria will depend on the outcome of these discussions and Bulgaria’s response. This marks a significant development in the monitoring of Bulgaria’s economic stability within the EU framework.