Bulgarian parl adopts 2020 balanced budget

Bulgarian parl adopts 2020 balanced budget

Bulgaria's parliament has approved the 2020 budget act, which sees revenue and expenses amounting to 46.8 billion levs ($26.5 billion/23.9 billion) each in 2020. The budget envisages increased spending for pensions, salaries for teachers, and public sector salaries, as well as more funds for healthcare, according to the budget act, posted on the parliament's website late on Thursday. The 2020 budget act also projects higher revenue from value added tax, excise duty and personal income taxes. GDP growth is projected at 3.3% in 2020, while the harmonised index of consumer prices is seen rising 2.1%. Bulgaria's 2019 budget envisages a deficit equal to 2% of this year's projected gross domestic product. At the end of November, Bulgaria's consolidated budget is expected to show a surplus of 0.9% of GDP, according to finance ministry data.
 
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