Bulgaria's Jan-Feb Cons Budget Deficit Grows to 374 Mln Euro

Bulgaria's Jan-Feb Cons Budget Deficit Grows to 374 Mln Euro

Bulgaria posted a 732 million lev ($479.2 million/374.3 million euro) consolidated budget deficit through February, up by 167 million lev from a year ago, preliminary finance ministry figures showed.

The negative budget balance was formed by a deficit of 485.5 million levs under the national budget and 246.5 million levs under EU funds, data published by the ministry showed.

At end-February, budget revenues stood at 3.83 billion levs, equivalent to 12.5% of those planned in the 2013 budget, while expenditures, including contributions to the EU budget, amounted to 4.56 billion levs, or 14.4% of the planned for the year.

Bulgaria's fiscal reserve amounted to 3.9 billion levs at the end of February.

Bulgaria closed last year with a budget deficit of 350.2 million levs, equivalent to 0.45% of the country's projected gross domestic product. The government plans a budget shortfall of 1.3% of GDP for this year.

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