Bulgaria’s Finance Ministry has said that the consolidated Budget surplus for the first seven months of 2021 was 705.2 million leva, falling short of the ministry’s forecast of 731 million leva issued last month.
This was a sharp decline from the same period last year, when Bulgaria recorded a Budget surplus of 1.72 billion leva. At the end of August, the ministry expected the surplus to increase to 885 million leva.
The state Budget had a surplus of 948.8 million leva and the EU funds recorded a deficit of 243.7 million leva at the end of July. Bulgaria’s contribution to the EU budget for the first seven months of 2021 was 863.5 million leva.
Revenue in January-July was 29.25 billion leva, an increase of 15.8 per cent compared to the same period of last year. Tax revenues were 22.76 billion leva, an increase of 13.5 per cent compared to January-July 2020.
Budget spending was up to 28.55 billion leva in the first seven months of the year, compared to 23.54 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, as well as higher spending in the social sector, the ministry said.
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