Bulgaria’s Finance Ministry has said that the consolidated Budget surplus in the first month of 2016 stood at 991.6 million leva, or 1.1 per cent of the forecast gross domestic product (GDP).
The surplus represented an improvement of one percentage point of GDP compared to the same period of 2015, when the consolidated Budget surplus was 69.1 million leva. The ministry’s forecast envisioned the Budget surplus growing to 961 million leva in February.
The state Budget had a surplus of 811.1 million leva and the EU funds surplus was 180.5 million leva. Bulgaria’s contribution to the EU budget for the first month of 2016 was 29.1 million leva.
Consolidated Budget revenue in January was 3.13 billion leva, an improvement of 26.7 per cent compared to the same period of last year. Tax revenues were up 18.2 per cent compared to the first month of last year, at 2.57 billion leva.
Budget spending was 2.14 billion leva in January.
(Photo: Alessandro Paiva/sxc.hu)