Bulgaria's Budget Surplus Has Shrunk by More than a Half by the End of August
According to the Ministry of Finance, Bulgaria's budget surplus has shrunk to 600 million euros by the end of August.
Bulgaria had a budget surplus of BGN 675,5 M at the end of April, decreasing from BGN 2,7 B at the same time last year.
The surplus was however up by 31,3 % from the end of March. The year on year fall can be explained by a large increase in spending, the Bulgaria finance ministry explained.
Budget spending rose 21,7 % to BGN 8,4 B at the end of April from a year ago due to the economic crisis which cut revenues by 5,2 % on an annual basis to BGN 9,1 B, finance ministry data showed, cited by Pari daily.
Officials pointed at the global financial crisis as the main culprit for the y/y surplus decrease, adding that there has been a drastic decrease in imports and a lowering in demand for manufactured products since April 2008.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022