Bulgaria records 994.4M leva Budget surplus in January-February 2024
Bulgaria’s Finance Ministry has recorded a consolidated Budget surplus of 994.4 million leva in the first two months of the year, or 0.5 per cent of this year’s estimated gross domestic product, just short of the ministry’s forecast of one billion leva issued last month.
This was a big jump compared to the same period of 2023, when Bulgaria recorded a Budget deficit of 190.9 million leva. However, the figure was boosted by the Cabinet’s transfer of 1.2 billion leva in funding for municipal projects, to be allocated throughout 2024.
Discounting that one-off transfer, the adjusted consolidated Budget balance for the first two months of this year was a deficit of 205.7 million leva.
For March, the ministry forecast a Budget surplus of 0.4 billion leva at the end of the month.
Revenue in January-February was 9.96 billion leva, up 5.4 per cent from 9.45 billion leva recorded in the same period of last year. Tax revenues were 8.01 billion leva, an increase of 6.1 per cent.
Budget spending was 8.97 billion leva, down from 9.64 billion leva in the same period of 2023. However, a like for like comparison with 2023 after removing the one-off 1.2 billion leva transfer of funds for municipal projects put the total spending so far this year at 10.17 billion leva, a nominal increase of 5.5 per cent, the ministry said.
(Photo: Alessandro Paiva/sxc.hu)
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