Bulgaria's finmin sees end-Oct budget surplus at 0.5%/GDP

Bulgaria's finmin sees end-Oct budget surplus at 0.5%/GDP

Bulgaria's consolidated budget is expected to be in surplus of 618 million levs ($367.8 million/316 million euro), equivalent to 0.5% of GDP, at the end of October, down from a 1.1 billion levs surplus a year earlier, the finance ministry said.

Consolidated budget revenue is expected to amount to 36.3 billion levs at the end of October, or 81.8% of the full-year plan, the ministry said in a statement on Friday.

Consolidated budget expenditures are projected at 35.7 billion levs at the end of October, equal to 74.5% of the 2020 plan.

The finance ministry said in a separate statement on Friday that the country's consolidated budget had a surplus of 871.4 million levs at the end of September, or 0.7% of GDP.

Last month, Bulgaria's government proposed a second amendment to the 2020 budget, envisaging a deficit of 4.4% of GDP.

In April, the parliament adopted changes to the 2020 balanced budget that envisage a deficit of 3.5 billion levs, equivalent to 2.9% of GDP, in order to meet spending needs arising from the coronavirus pandemic.

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