Bulgaria's Finmin Sees End-July Budget Surplus at 1.9%/GDP

Bulgaria's Finmin Sees End-July Budget Surplus at 1.9%/GDP

Bulgaria's finance ministry said on Tuesday it expects the consolidated budget to show a surplus of 2 billion levs ($1.2 billion/1.02 billion euro) at the end of July, equivalent to 1.9% of the projected 2018 gross domestic product (GDP). Consolidated budget revenues are expected to be 2 billion levs higher on the year at 22.55 billion levs at the end of July, or 59% of the full-year plan, boosted by increased tax and non-tax revenues, the ministry said in a statement citing preliminary estimates. Consolidated budget expenditures are projected to total 20.5 billion levs at the end of July, or 52.2% of the full-year plan. Consolidated budget expenditures at end-July 2017 amounted to 18.5 billion levs.In a separate statement the finance ministry said that country's consolidated budget showed a surplus of 1.7 billion levs at the end of June, equivalent to 1.6% of the projected GDP.Bulgaria's 2018 budget targets a deficit equivalent to 1.0% of the projected GDP, which is expected to grow by a real 3.9% to 105.6 billion levs.(1 euro = 1.95583 levs)

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