Bulgaria’s State Budget Registers 200 M Surplus
The Bulgarian state budget registered a surplus of 190,5 million levs in April 2011, shows the data of the Ministry of Finance. In March, 2011 the budget surplus was 8 million levs as the accumulated deficit on a consolidated basis for the first four months of 2011 is 552 million levs or 0.7% from the expected GDP. A year ago, Bulgaria?s budget deficit was in the size of 1.3 billion levs. The state revenues end-April totaled to 8 billion levs or 30,3% from the annual projections. The revenues register a growth of 6.1% or 456,7 million levs y/y. According to the analysis of the Ministry of Finance, this is mainly due the the bigger revenues from indirect taxes which grew by 445,2 million levs or by 18%. The tax revenues including the revenues from social security payments, amounted to 6.5 billion levs end-April. The budget expenditures plus Bulgaria’s contribution to the EU budget reached 8.5 billion levs which is a shrinking by 291 million levs y/y. The fiscal reserve end-April is 4.7 billion levs.