Bulgaria's finmin sees end-March budget deficit at 0.5%/GDP

Bulgaria's finmin sees end-March budget deficit at 0.5%/GDP

Bulgaria's consolidated budget is expected to show a deficit of 656.5 million levs ($393.3 million/335.7 million euro) at the end of March, equivalent to 0.5% of the projected 2021 GDP, the finance ministry said.

Consolidated budget revenue is expected to rise by an annual 3.6% to 11.2 billion levs in the first quarter of 2021, or 23.6% of the full-year plan, the ministry said in a statement on Wednesday.

Consolidated budget expenditure is estimated at 11.9 billion levs as at end-March, or 22.6% of the full-year plan. This compares to expenditure of 9.6 billion levs at the end of March 2020.

In a separate statement on Wednesday, the finance ministry said Bulgaria's consolidated budget showed a surplus of 24.3 million levs at the end of February.

The 2021 budget framework envisages a deficit of some 5 billion levs, including a 600 million levs buffer in case the situation with the coronavirus pandemic worsens and additional resources are needed.

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