Bulgaria's Finmin Sees End-June Budget Surplus at 1.7%/GDP

Bulgaria's Finmin Sees End-June Budget Surplus at 1.7%/GDP

Bulgaria's finance ministry said on Friday it expects the consolidated budget to show a surplus of 1.74 billion levs ($1.04 billion/889.6 million euro) at the end of June, equivalent to 1.7% of the projected 2018 gross domestic product (GDP).Consolidated budget revenues are expected to be 1.76 million levs higher on the year at 19.2 billion levs at the end of June, or 50.3% 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 17.50 billion levs at the end of June, or 44.5% of the full-year plan. Consolidated budget expenditures at end-June 2017 amounted to 15.74 billion levs.In a separate statement the finance ministry said that country's consolidated budget showed a surplus of 1.42 billion levs at the end of May, equivalent to 1.4% 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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