Bulgaria's consolidated budget is expected to be in surplus of 570 million levs ($330.2 million/291.4 million euro) as at the end of November, equivalent to 0.4% of the projected gross domestic product (GDP) for the year, the finance ministry said, citing preliminary data and estimates.
Consolidated budget revenue is expected to have added 7.4 billion levs on the year to 47.8 billion levs in the eleven months through November, or 94.5% of the full-year plan, the ministry said in a statement late on Tuesday.
Consolidated budget expenditure is estimated at some 47.2 billion levs as at end-November, or 85.6% of the full-year plan. This compares to an expenditure of 39.9 billion levs as at the end of November 2020.
In November alone, Bulgaria's budget is expected to be in deficit of 160 million levs on a monthly comparison basis mainly due to higher costs for social and health insurance payments, as well as higher subsidy costs, the finance ministry also said.
The consolidated budget showed a surplus of 727.7 million levs at the end of October, equivalent to 0.6% of the projected 2021 GDP, the finance ministry said in a separate statement on Tuesday.
In September, Bulgaria's parliament approved a revision to the 2021 state budget, raising planned revenues by 2.5 billion levs and increasing planned expenditures by 2.3 billion levs, mainly to finance measures related to the coronavirus crisis. The budget deficit is planned to drop to 4.7 billion levs from 4.9 billion levs envisaged in the budget before the revision. Prior to the revision, revenues were planned at 47.6 billion levs and expenditures were seen at 52.5 million levs.