Bulgaria records 596.6M leva Budget surplus in January-April 2024

Bulgaria’s Finance Ministry has recorded a consolidated Budget surplus of 596.6 million leva in the first four months of the year, or 0.3 per cent of this year’s estimated gross domestic product.

This was a big jump compared to the same period of 2023, when Bulgaria recorded a Budget deficit of 1.1 billion 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 four months of 2024 was a deficit of 603.4 million leva.

Revenue in January-April was 22.77 billion leva, up 14.8 per cent compared to the same period of last year. Tax revenues were 17.29 billion leva, an increase of eight per cent.

Budget spending was 22.17 billion leva, up from 20.94 billion leva recorded 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 23.37 billion leva, the ministry said.

(Photo: Alessandro Paiva/sxc.hu)

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