Bulgaria H1 2024 Budget deficit at 636M leva
Bulgaria’s Finance Ministry has recorded a consolidated Budget deficit of 636 million leva in the first half of the year, or 0.3 per cent of this year’s estimated gross domestic product.
This was a significant drop compared to the same period of 2023, when Bulgaria recorded a Budget surplus of 177.7 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 six months of 2024 was a deficit of 1.84 billion leva.
Revenue in January-June was 34.49 billion leva, up 9.8 per cent compared to the same period of last year. Tax revenues were 27.2 billion leva, an increase of 10.7 per cent.
Budget spending was 35.13 billion leva, up from 31.23 billion leva recorded in the same period of 2023. However, a like for like comparison with the first half of last year after removing the one-off 1.2 billion leva transfer of funds for municipal projects put the total spending so far this year at 36.33 billion leva, the ministry said.
(Photo: Alessandro Paiva/sxc.hu)
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