Minister: Bulgaria's Budget Surplus Exceeds 1 Billion Levs at End of April

Minister: Bulgaria's Budget Surplus Exceeds 1 Billion Levs at End of April

Bulgarian Finance Minister Vladislav Goranov announced that the budget surplus stood at 1.066 billion levs at the end of April, while the figures for May were even more positive. Goranov said this during the parliamentary control on Tuesday, reminding that during the same time last year, there was a budget deficit of 864 million levs. The minister said that the current results presented the best fiscal performance in years and it was comparable to that of 2008, daily Sega reports. 
Goranov assured that there will be no tolerance against corruption and the ministry has numerously expressed its support for all bodies tackling corruption at all levels of the administration. According to him, there was political will for improving the collection of revenues and this was demonstrated by the figures for the first quarter, which showed improved budgetary execution. 
Goranov stated that the incomes in the revenue agencies for the first four months of 2015 exceeded those from the same period last year with 814.2 million levs, which was an increase of 11.5 %. The growth in revenues was largely due to increase in the incomes from Value Added Tax (VAT), which exceeded those from the same period in 2014 with 359.3 million levs. The revenues from excise duties at the end of April recorded an increase of 113.8 million levs compared to the same period in 2014.
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