Standart News

Bulgaria's state budget surplus amounts to 62,4 million levs in the first six months of 2012 compared to the budget deficit of 649,7 million levs end-June 2011, Bulgaria's ministry of finance reported. Compared to the same period of 2011 the budget balance improves by 712,1 million levs (1% point of the country's GDP). Bulgaria's fiscal reserve end-June 2012 is 5.1 billion levs.
The revenues to the state budget end-June are 13,22 billion levs or 46% of the planned for the whole 2012. This is a growth of 9.8% (1.183 billion levs) compared to the same period of 2011. This growth is mainly due to the increase of the VAT revenues (a growth of 507 million levs) and to the non-tax revenues and aids (a growth of 453 million levs).
Bulgaria's state expenditures end-June total 13,161 billion levs which is only 44,1% of the y/y plan. Compared to the same period of 2011 the state outlays grow by 471 million levs (3.7%) which is mainly due to the big capital expenditures and more social and health payments.