The National Assembly approved on second reading budget 2007 after more than 14 hours of debates.

Budget 2007 is to be the first budget of Bulgaria as an EU member state. It includes a  634.434 million leva contribution to the common European budget, Bulgarian news agency BTA reported.

Changes to VAT, money laundering and other regulations were needed because of the budget, Finance Minister Plamen Oresharski said.

Opposition argued that such changes to budget attempted to intervene in legal frameworks. Oresharski said that the amendments aimed at harmonisation of Bulgaria's regulations with EU requirements.

Bulgaria's minimal fiscal reserve is set at 3.6 billion leva. Budget income is expected to reach 14.5 billion leva in 2007. Expenditure would be slightly over 14.4 billion leva, BTA said.

Oresharski said as quoted by Focus news agency that budget 2007 is to provide all the resources needed for Bulgaria's upcoming EU entry.

More funds were to be allocated for healthcare and education, said Oresharski.