Bulgaria Jan-July Cons Budget Gap Widens to 1.231 Bln Levs

Bulgaria Jan-July Cons Budget Gap Widens to 1.231 Bln Levs

Bulgaria's consolidated budget deficit rose to 1.231 billion levs ($798.9 million/629.5 million euro) through July from 386.4 million levs a year ago, the Finance Ministry said on Wednesday.Official data released in the beginning of the year showed that Bulgaria closed 2009 with a budget gap equivalent to 0.8% of gross domestic product (GDP), compared to a budget surplus equivalent to 3.0% of GDP in 2008. In April, however, Finance Minister Simeon Dyankov said that due to "hidden" procurement deals, last year's deficit actually amounted to 3.7% of GDP.


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