Bulgaria’s Finance Ministry has said that it expected the consolidated Budget deficit January-February 2015 to stand at 130 million leva, or just 0.2 per cent of forecast gross domestic product, making it the lowest deficit for the first two months of a calendar since 2010.
At the same stage of last year, the deficit was 688.2 million leva, according to the ministry.
The state Budget had a surplus of 227.4 million leva and the EU funds deficit was 158.4 million leva. Bulgaria’s contribution to the EU budget for the first two months of 2013 was 75.8 million leva.
Higher revenue was the main reason for the improvement, as Budget spending so far this year was at comparable levels to 2014, the ministry said in a statement. Revenue in the first two months of 2015 was expected at 4.75 billion leva, an improvement of 13 per cent compared to the same period of last year.
To read the full story, click here.