Bulgaria To Revise 2014 Budget, Raise Deficit To 3.0%/GDP
Tuesday, 15 July 2014
Bulgaria's political parties agreed on Monday on a revision to the state budget, raising deficit to 3.0% of the planned gross domestic product (GDP), president Rosen Plevneliev said.
Bulgaria's 2014 state budget targets a budget gap equivalent to 1.8% of the projected GDP.
The amendments to the state budget would also provide for a reasonable increase in the state debt ceiling, the president said, without quoting figures.
Under the 2014 state budget, the country's state debt cannot exceed 18 billion levs ($12.5 billion/9.2 billion euro) by the end of 2014.
The budget of the National Health Insurance Fund too will be revised so as to guaranty its normal functioning.