Bulgaria’s Finance Ministry has recorded a consolidated Budget surplus of 24.3 million leva in the first two months of the year, well below the ministry’s forecast of 137 million leva issued last month.
This was a sharp drop from last year, when Bulgaria recorded a Budget surplus of 1.48 billion leva. For March, the ministry forecast a Budget deficit of 656.5 million leva at the end of the month.
The state Budget had a deficit of 57.5 million leva and the EU funds surplus was 81.8 million leva. Bulgaria’s contribution to the EU budget in January-February 2021 was 393.1 million leva.
Revenue in the first two months of 2021 was 7.29 billion leva, compared to 7.46 billion leva in the same period of last year. Tax revenues were 5.78 billion leva, down from 5.84 billion leva in January-February 2020.
Budget spending was 7.27 billion leva in January-February, up from 5.98 billion leva in the same period of 2020. The increase was mainly due to spending on social and economic measures meant to overcome the negative effects of Covid-19, higher pensions and staff costs, the ministry said.
(Photo: Michael Faes/sxc.hu)
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