Bulgaria’s FinMin Sets 2013 GDP Growth at 1.9% in Budget Draft

Bulgaria’s FinMin Sets 2013 GDP Growth at 1.9% in Budget Draft

Bulgaria's finance ministry has set the country's economic growth next year at 1.9% to 81.486 billion levs ($53.8 billion/41.7 billion euro) in a 2013 budget draft.

Budget revenues next year are expected to increase by 1.8 billion levs, providing the resource needed for the planned rise in expenditures on social welfare, education, culture, environment protection and infrastructure, the finance ministry said in a press release on Wednesday.

The draft sets budget deficit at 1.1 billion levs, or the equivalent of 1.3% of the projected gross domestic product (GDP). The budget debt ceiling is set at 14.6 billion levs, or 17.8% of GDP.

Foreign direct investments in the country are expected to reach 4.2% of GDP in 2013, up from a projected 3.8% of GDP for this year.

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