Bulgaria records 146.9M leva Budget surplus in January-May 2024

Bulgaria’s Finance Ministry has recorded a consolidated Budget surplus of 146.9 million leva in the first five months of the year, or 0.1 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 1.18 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 five months of 2024 was a deficit of 1.05 billion leva.

Revenue in January-May was 28.26 billion leva, up 13.4 per cent compared to the same period of last year. Tax revenues were 21.86 billion leva, an increase of 10.4 per cent.

Budget spending was 28.11 billion leva, up from 26.1 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 29.31 billion leva, the ministry said.

(Photo: Alessandro Paiva/sxc.hu)

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