Bulgaria records 3.69B leva Budget deficit in January-November 2024
Bulgaria’s Finance Ministry has recorded a consolidated Budget deficit of 3.69 billion leva in the first 11 months of 2024, or 1.8 per cent of the 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 980.3 million leva.
This was despite the Budget balance being boosted by the Cabinet’s transfer of 1.2 billion leva – allocated from the 2023 Budget – in funding for municipal projects, to be distributed throughout 2024.
Revenue in January-November was 65.23 billion leva, up 8.5 per cent compared to the same period of last year. Tax revenues were 53.39 billion leva, an increase of 11.8 per cent.
Budget spending was 68.92 billion leva, up from 61.1 billion leva recorded in the same period of 2023, an increase of 12.8 per cent.
(Photo: Pedro Moura Pinheiro/flickr.com)
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