Bulgaria's budget gap contracts 46% in Jan-Feb 2011

Bulgaria's budget gap contracts 46% in Jan-Feb 2011

Bulgaria's budget deficit shrank by 46% on an annual basis to BGN 750.5 million in the first two months of 2011, Finance Ministry data shows.

In February alone, Bulgaria ran up a budget shortfall of BGN 273.2 million. 

The contraction was attributed to the higher receipts from value-added tax (VAT), which grew by 21.1% year-on-year to BGN 1.4 billion for January to February. Excise receipts and direct taxes remained almost unchanged versus the same period of 2010.

Non-tax revenues and benefits rose by BGN 55.3 million on the year thanks to an increase in EU grants and strong absorption of state tax revenue. /Source: Dnevnik/

Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.