Bulgaria Turns to Jan-Sept Cons Budget Surplus of 126.9 Mln Euro

Bulgaria Turns to Jan-Sept Cons Budget Surplus of 126.9 Mln Euro

Bulgaria posted a consolidated budget surplus of 248.1 million levs ($164.8 million/126.85 million euro) in the first nine months of 2012, finance ministry data indicated.

In January-September 2011 the country ran a consolidated budget deficit of 826 million levs.

The surplus in the first nine months of 2012 was formed by 735.2 million levs surplus in the national budget and 487 million levs deficit under EU funds transfer, data published by the finance ministry showed on Wednesday.

In September alone, Bulgaria posted consolidated budget surplus of 140.5 million levs.

Fiscal reserve amounted to 7.2 billion euro at the end of last month.

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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