Bulgaria's Finance Ministry Foresees Budget Surplus as of End-August
The Finance Ministry has said it expects a 3.3 billion levs consolidated budget surplus as of the end of August.
The figure amounts to 3.7% of the gross domestic product (GDP), compared to a 0.7% surplus over the first eight months of last year.
A continuing growth in revenues, combined with the containment of expenditures compared to the same period of last year, is what has caused the development.
Revenues and grants under the consolidated budget amounted to 23 billion levs, or 69.8% of the 2016 plan, at the end of August. Compared to the first eight months of 2016, revenues and grants have increased by 1.5 billion levs.
Expenditures under the consolidated budget, including Bulgaria’s contribution to the EU budget, totalled 19.7 billion levs for the first eight months, or 56.7% of the total amount planned for 2016. This compared with expenditures of 20.9 billion levs for the same period last year.
Sofia News Agency