Bulgaria's parl approves 2021 budget revision, lowers planned deficit

Bulgaria's parl approves 2021 budget revision, lowers planned deficit

Bulgaria's parliament said it approved a revision to the 2021 state budget, raising planned revenues by 2.5 billion levs ($1.5 million/1.3 million euro) and increasing planned expenditures by 2.3 billion levs, mainly to finance measures related to the coronavirus crisis.

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.

The amendments envisage some 1.7 billion levs for supplementary and compensatory measures in connection with Covid-19, the National Assembly said in a statement published on its website on Friday.

Additional funds of 440 million levs will be allocated for expenses for business support and employment programmes, the parliament said.

Up to 224.04 million levs more will be made available to the health ministry for the purchase of additional quantities of Covid-19 vaccines and medicinal products for the treatment of Covid-19, as well as for other expenses stemming from the coronavirus pandemic.

The labour ministry will be able to use up to 214.6 million levs in additional funds for social support measures.

The regional development ministry and the transport ministry will receive up to 100 million levs each in additional funds for repairs and maintenance of the national road network and for the provision of grants to air carriers and bus transport companies, respectively.

 

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