Bulgaria Jan-July Cons Budget Surplus Reaches 102.4 Mln Euro

Bulgaria Jan-July Cons Budget Surplus Reaches 102.4 Mln Euro

Bulgaria posted a consolidated budget surplus of 200.3 million levs ($129.2 million/102.4 million euro) in the first seven months of 2012, finance ministry data indicated.

In January-July 2011 the country ran a consolidated budget deficit of some 720.5 million levs.

The budget surplus through July was formed by 521.1 million levs surplus under the national budget and a deficit of 320.7 million levs under the EU funds, the ministry said in a statement.

In July alone, Bulgaria posted a consolidated budget surplus of 138.4 million levs, as the result was mainly driven by higher proceeds from EU-funded operational programmes. The European Commission reimbursed by the end of July part of funds that were expected to be refunded in August.

The country's fiscal reserve amounted to 7.1 billion levs at the end of July.


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