Bulgaria Adopts 2015 Budget with 3% Deficit
Monday, 22 December 2014
Bulgaria’s parliament has approved the 2015 budget with deficit equivalent to 3% of the projected Gross Domestic Product.
In a marathon session that lasted for 17 hours until early morning hours on Saturday, the MP’s passed in second and final reading the budget that also projects real economic growth of 0.8% and fresh gross borrowing of 8.1 billion levs that will increase Bulgaria’s net debt by 2 billion levs to 24.5 billion levs at end-2015.
Budget revenue is projected at 36.8% of GDP and expenditure is set at 39.8% of GDP.