Bulgaria records 422.5M leva Budget surplus in January 2024

Bulgaria’s Finance Ministry has recorded a consolidated Budget surplus of 422.5 million leva in the first month of the year, or 0.2 per cent of this year’s estimated gross domestic product, exceeding the ministry’s forecast of 400 million leva issued last month.

That was a small decrease compared to the same period of 2023, when Bulgaria recorded a Budget surplus of 470.6 million leva. For February, the ministry forecast a Budget surplus of one billion leva at the end of the month.

Revenue in January was 5.23 billion leva, up 7.6 per cent from 4.87 billion leva recorded in the same period of last year. Tax revenues were 4.46 billion leva, an increase of 11.9 per cent.

Budget spending was 4.81 billion leva, up from 4.4 billion leva in the same period of 2023, with the bulk of the increase going to higher pensions and other social spending.

The ministry said that there was a decline in the amount paid as subsidies, in particular the scheme to compensate non-household consumers for high electricity prices, compared to January 2023.

(Photo: Alessandro Paiva/sxc.hu)

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