Bulgaria’s 2011 Budget Deficit at 2.0%/GDP

Bulgaria’s 2011 Budget Deficit at 2.0%/GDP

Bulgaria had a budget deficit of 1.54 billion levs ($1.03 billion/787.4 million euro) last year, equivalent to 2.0% of the country's gross domestic product (GDP), and 16.3% government debt-to-GDP ratio, ranking among the EU's top performers.

The central government deficit amounted to 1.7 billion levs, equivalent to 2.3% of GDP, whereas the local government posted a deficit of 19 million levs, or 0.2% of GDP, the National Statistical Institute (NSI) said in a statement on Monday.

In 2011, Bulgaria's government debt totalled 12.3 billion levs, or 16.3% of GDP.  According to Eurostat data released on Monday, this is the second lowest government debt-to-GDP ratio in the EU at the end of 2011 after Estonia's 6.1%.

Last year, 17 EU member states had deficits exceeding 3.0% of GDP, Eurostat data also indicated.

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