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Democratic Bulgaria Proposes EUR 1,000 State Account for Every Baby Born from 2027

bta.bg · 6h · first reportShare

Democratic Bulgaria (DB) held a press conference here on Tuesday, at which DB MPs Ivaylo Mirchev and Bozhidar Bozhanov presented their party's proposal to have the State open a personal account with EUR 1,000 for all babies born after January 1, 2027. The initiative called Future Account proposes that for 60 years, this money will be untouchable and inheritable, and after the 60 years is up, it will be worth a nominal amount of around EUR 300,000. Future Account is expected to cost the State Budget some EUR 50 million a year. DB is confident that this initiative would be a major investment in the future of Bulgarian children. Relatives will also be able to make additional contributions to the accounts, as well as to decline the EUR 1,000, if the families are wealthy and see fit to do so. The money may also be used before the account owner reaches the age of 60 in cases of urgent need. The plan is for every parent, as well as the child as they grow up, to have access to a mobile app tha