Bulgaria January-September 2021 Budget surplus at 1.07B leva

Bulgaria’s Finance Ministry has said that the consolidated Budget surplus for the first nine months of 2021 was 1.07 billion leva, in line with the ministry’s forecast issued last month.

This was higher than during the same period of last year, when Bulgaria recorded a Budget surplus of 871.4 million leva. At the end of October, the ministry expected the surplus to drop to 725 million leva.

The state Budget had a surplus of 1.22 billion leva and the EU funds recorded a deficit of 150.4 million leva at the end of September. Bulgaria’s contribution to the EU budget for the first nine months of 2021 was 1.09 billion leva.

Revenue in January-September was 37.84 billion leva, an increase of 16.6 per cent compared to the same period of last year, the Finance Ministry said. Tax revenues were 29.6 billion leva, an increase of 13.8 per cent compared to January-September 2020.

Budget spending was up to 36.77 billion leva in the first nine months of the year, compared to 31.55 billion leva in the same period of 2020. The increase was mainly due to higher spending on social and economic measures meant to overcome the negative effects of Covid-19, as well as increased spending in the social sector and administration costs, the ministry said.

(Illustration: svilen001/sxc.hu)

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