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Bulgaria's outgoing Finance Minister Oresharski is presenting Monday data on the execution of the state budget. Photo by BGNES
Bulgaria's outgoing Minister of Finance, Plamen Oresharski, is going to present Monday data on the execution of the state budget for the first half of 2009.
Oresharski's presentation is expected to provide details as to whether and how the state budget would have to modified by the new government of the GERB party as the revenue of Bulgaria's state budget has shown substantial decline since the beginning of 2009.
In May 2009, the budget, which had surpluses over the last several years, showed a monthly deficit of BGN 120 M; yet, for the first five months of 2009, there was still a surplus of BGN 555 M.
According to data of the National Statistical Institute, Bulgaria's GDP declined by 3,5% in the first quarter of 2009 compared to the same period of 2008.
The Finance Minister nominee of the GERB party, former World Bank senior economist Simeon Djankov, has made clear the intention of the new cabinet to modify the state budget as soon as it assumes power.
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