Bulgaria to Increase 2019 Budget Deficit Target to Finance F-16 Buy

Bulgaria to Increase 2019 Budget Deficit Target to Finance F-16 Buy

Bulgaria's finance minister Vladislav Goranov will propose to government on Monday to raise the deficit target in the 2019 budget to 2.0% of the projected GDP from 0.5%, in order to finance the purchase of F-16 fighter jets from the US, he said on Friday. However, the government does not intend to change its borrowing strategy, as the fiscal reserve is at a good level and can handle the $1.2 billion (1.07 billion euro) payment for the F-16 jets, Goranov said in an interview for local Radio Focus. published on the finance ministry's website. Earlier this week, the government approved four draft agreements with the US worth a total of $1.256 billion, for the purchase of eight F-16 Block 70 fighter jets, delivery of munitions for the jets, Sidewinder AIM 9Х Block II missiles, and a multifunctional information distribution system joint tactical radio system (MIDS JTRS).

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