Bulgaria records 1.69B leva Budget deficit in January-August 2024
Bulgaria’s Finance Ministry has recorded a consolidated Budget deficit of 1.68 billion leva in the first eight months of the year, or 0.8 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 deficit of 51.9 million leva.
This was despite the Budget balance being boosted by the Cabinet’s transfer of 1.2 billion leva – allocated from last year’s Budget – in funding for municipal projects, to be distributed throughout 2024.
Revenue in January-August was 46.49 billion leva, up 9.5 per cent compared to the same period of last year. Tax revenues were 37.53 billion leva, an increase of 13.5 per cent.
Budget spending was 48.17 billion leva, up from 42.53 billion leva recorded in the same period of 2023, an increase of 13.3 per cent.
(Photo: Pedro Moura Pinheiro/flickr.com)
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