Bulgaria Poised to Revise 2013 Budget - Fin Min
Thursday, 01 January 1970
The Bulgarian government plans a revision of the country's fiscal blueprint for 2013 prompted by a hole in the state budget, finance minister Petar Chobanov said.
The finance ministry estimates that revenues this year may fall 1.0 billion levs ($670 million/510 million euro) short of the budgeted target while the spending side is also seen as unrealistic, Chobanov said.
When revising the budget, Bulgaria will raise the projected budget deficit, but it will still remain within the limits set by the European Commission, the minister added.
The finance ministry also plans to issue 1.0 billion levs in debt paper, bringing the country's public debt to 13.6 billion levs, below the 14.6 billion levs limit budgeted for the year.