Bulgaria's minfin sees end-Oct budget surplus at 370.7 mln euro

Bulgaria's minfin sees end-Oct budget surplus at 370.7 mln euro

Bulgaria's consolidated budget is expected to be in surplus of 725 million levs ($428.9 million/370.7 million euro) as at the end of October, equivalent to 0.6% of the projected 2021 GDP, the finance ministry said, citing preliminary data and estimates.

Consolidated budget revenue is expected to have added 5.7 billion levs year-on-year to 42.1 billion levs in the first ten months of 2021, or 83.2% of the full-year plan, the ministry said in a statement late on Friday.

Consolidated budget expenditure is estimated at some 41.4 billion levs as at end-October, or 75% of the full-year plan. This compares to an expenditure of 35.6 billion levs as at the end of October 2020.

In October alone, Bulgaria's budget is expected to be in deficit of 343 million levs on a monthly comparison basis due to higher Covid-related costs, the finance ministry also said.

The consolidated budget showed a surplus of nearly 1.1 billion levs at the end of September, equivalent to 0.8% of the projected 2021 GDP, the finance ministry said in a separate statement on Friday.

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.

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