Bulgaria Sees Jan Budget Surplus at 0.9%/GDP

Bulgaria's finance ministry said on Tuesday it expects the consolidated budget to show a surplus of 867.3 million levs (479 million US dollars/443.5 million euro) at the end of January, equivalent to 0.9% of the projected 2017 gross domestic product (GDP).

The forecast compares to 991.6 million levs surplus, or 1.1% of GDP, recorded at the end of January last year, the ministry said in a statement citing preliminary estimates.

Consolidated budget revenues are expected to be 196.4 million levs higher on the year at 3.33 billion levs at end-January, or 9.4% of the full-year plan, underpinned by increased tax and non-tax revenues.

Consolidated budget expenditures are projected to total 2.46 billion levs at end-January.

Bulgaria's full-year 2016 consolidated budget showed a surplus equivalent to 1.6% of the projected GDP, compared to a deficit of 2.8% of GDP in 2015, the finance ministry said last week. The turnaround to budget surplus was Bulgaria's first since 2008.

Bulgaria's 2017 budget targets a deficit equivalent to 1.4% of the projected GDP, which is expected to grow by a real 2.5% to 92.4 billion levs. The fresh borrowing which the government will be allowed to make under is set at 1.2 billion levs.

 

 

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