Bulgaria is expected to have a surplus in the budget of 231 million levs

Bulgaria is expected to have a surplus in the budget of 231 million levs

Bulgaria's consolidated budget is expected to be in surplus of 231 million levs ($130.5 million/118.1 million euro) as at the end of March, equivalent to 0.2% of the gross domestic product (GDP) projected for 2022, the finance ministry said, citing preliminary data and estimates.

At the end of the first quarter of last year, the country's consolidated budget was in deficit of 625.8 million levs.

Consolidated budget revenue is expected to have added 1.05 billion levs year-on-year to 12.4 billion levs as at the end of March 2022, the finance ministry said in a statement late on Thursday.

Consolidated budget expenditure is estimated at 12.2 billion levs as at the end of the first quarter of this year, up from nearly 12 billion a year earlier.

Bulgaria's consolidated budget was in surplus of 713.3 million levs at the end of February, equivalent to 0.5% of the projected 2022 GDP, the finance ministry said in a separate statement on Thursday.

The 2022 budget targets economic growth of 4.8% and average annual inflation of 5.6%. The 2022 budget will be updated in the middle of this year under an agreement among the four political forces that form Bulgaria's government coalition.

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