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Bulgaria’s Budget Deficit Shrinks by 1.2 B Levs
For the past twelve months the gap in Bulgaria’s state budget has shrunk by 1.24 billion levs. In 2010 the budget deficit amounted to 2.8 billion levs, whereas at the end of last year it was 1.58 billion levs. Actually, the gap in the budget for 2011 is by 400 million levs smaller than expected and amounts to 2.1% of the country’s GDP against initially provided 2.5%.The fiscal reserve at the end of December 2011 is five billion levs, while the revenues for the last year amount to 25.37 billion levs, which is 97% of the expected revenues for the year. The collections of corporate tax amount to 1.3 billion levs, against initially expected 1.5 billion levs. However, those of personal income tax amount to 2.16 billion levs against initially expected 2.07 billion levs. VAT collections amount ...Read
For the past twelve months the gap in Bulgaria’s state budget has shrunk by 1.24 billion levs. In 2010 the budget deficit amounted to 2.8 billion levs, whereas at the end of last year it was 1.58 billion levs. Actually, the gap in the budget for 2011 is by 400 million levs smaller than expected and amounts to 2.1% of the country’s GDP against initially provided 2.5%.The fiscal reserve at the end of December 2011 is five billion levs, while the revenues for the last year amount to 25.37 billion levs, which is 97% of the expected revenues for the year. The collections of corporate tax amount to 1.3 billion levs, against initially expected 1.5 billion levs. However, those of personal income tax amount to 2.16 billion levs against initially expected 2.07 billion levs. VAT collections amount ...Read
