Bulgaria could start paying 1,000 euros into a personal account for every newborn Bulgarian child from January 1, 2027. Ivaylo Mirchev and Bozhidar Bozhanov, co-chairs of Yes, Bulgaria, unveiled the idea at a briefing. The "Future" account plan comes from Democratic Bulgaria as a whole, with the DSB party also on board.
The money would sit untouched and could be passed down for 60 years. Relatives could add extra payments, while families seen as well-off could opt out of the 1,000 euros. In urgent cases, the money could be accessed before the 60 years are up.
The funds would go into global stock market indexes, with average returns expected at 8% to 10%. After 60 years, that would leave a deposit worth around 300,000 euros in nominal terms. The scheme would cost the state budget 50 million euros a year.
Parents would track the money through a mobile app, and once a child turns 18, they could check it themselves. A board made up of the Bulgarian National Bank, the finance ministry and the labour and social policy ministry would make sure the deposits stay untouched and get invested properly.
Democratic Bulgaria called the plan a major investment in the future of Bulgarian children and a good way for Bulgaria to take a different approach to managing money and its future. "This is an idea above party lines, and we're starting talks with political parties," Mirchev said.
The authors of the idea said similar schemes already exist or are being planned in the US, Greece and Germany.
The briefing also touched on the return of Tsar Samuil's remains. Bozhanov said the process began under the Petkov government, and praised every Bulgarian government that has worked on the issue since. Yes, Bulgaria called the news positive.