The #EU will punish #Bulgaria for its budget deficit after its transition to the #euro. The country's annual budget deficit has risen to 3.5%, exceeding the threshold of 3% set in the eurozone. The European Commission intends to apply the "Excessive Deficit Procedure". Bulgaria joined the eurozone this January. Bulgaria's budget deficit will reach 4.1% next year and 4.3% in 2027. "This year, the deficit will be even greater. The bubble has burst," said Bulgarian Prime Minister Rumen Radev.