Bulgaria records 3.96B leva Budget deficit in January-October 2024
Bulgaria’s Finance Ministry has recorded a consolidated Budget deficit of 3.96 billion leva in the first 10 months of the year, or two per cent of this year’s estimated gross domestic product.
This was a significant increase in the deficit compared to the same period of 2023, when Bulgaria recorded a Budget shortfall of 1.44 billion 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-October was 58.13 billion leva, up 8.8 per cent compared to the same period of last year. Tax revenues were 47.25 billion leva, an increase of 12.5 per cent.
Budget spending was 62.09 billion leva, up from 54.88 billion leva recorded in the same period of 2023, an increase of 13.2 per cent.
(Photo: Pedro Moura Pinheiro/flickr.com)
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