Bulgaria's Jan-Aug Cons Budget Surplus Reaches 55 Mln Euro

Bulgaria's Jan-Aug Cons Budget Surplus Reaches 55 Mln Euro

Bulgaria posted a consolidated budget surplus of 107.6 million levs ($71 million/55 million euro) in the first eight months of 2012, finance ministry data indicated on Saturday.

Revenue in the consolidated state budget in January-August totalled 17.806 billion levs, while spending amounted to 17.137 billion levs.

In January-August 2011 the country ran a consolidated budget deficit of some 731.1 million levs.

Bulgaria closed last year with a budget deficit of 1.58 billion levs, equivalent to 2.5% of the country's projected gross domestic product. The government plans to bring down the budget shortfall to 1.3% of GDP this year.

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