Bulgaria Has Budget Surplus of 890 Million Levs at End of June

Bulgaria Has Budget Surplus of 890 Million Levs at End of June

At the end of June, Bulgaria had a budget surplus of 890 million levs, which represented 1.1 % of the projected Gross Domestic Product (GDP).
This was revealed after the regular meeting of the Council of Ministers on Wednesday, which approved the implementation of the government budget and the consolidated fiscal programme.
This excess is the result of a surplus of 439.9 million levs under the government budget and a surplus of 450.2 million levs under the EU funds.
This is a huge progress compared to the same month in 2014, when Bulgaria had a budget deficit of 996.4 million levs, marking an improvement of 2.3 %.
This improvement is largely due to the growth in the collection of revenues under the government budget and the increase of grants.
The collected revenues and grants exceeded 16.3 billion levs, which was an increase of more than 2 billion levs or 15 % compared to June 2014.
The expenses exceeded 15.4 billion levs, which was an increase of 246 million levs (1.6 %) compared to the same month in 2014.
At the end of June, the fiscal reserve stood at 11 billion levs.

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