Bulgaria Scores Perfect Performance on 2011 Budget, Lower Deficit

Business » FINANCE | February 1, 2012, Wednesday // 12:57
Bulgaria: Bulgaria Scores Perfect Performance on 2011 Budget, Lower Deficit

The Bulgarian government has fulfilled its revenue and spending plans for 2011 at close to 100%, and recorded a budget deficit lower than expected, announced the Ministry of Finance Wednesday.

The report has confirmed that the state budget deficit for 2011 has been 2.1% of GDP for the year, lower than the 2.5% previewed in the state budget for 2011.

The Ministry of Finance has announced it has fulfilled its revenue plans for last year at 96.8%, meaning hit has gathered BGN 25.4 B in revenue, or 33.3% of GDP.

The government has spent close to BGN 27 B, which amounts to 95.8% of its spending plans for 2011.

According to the Ministry of Finance, Bulgaria's fiscal reserve at December 31, 2011, amounted to BGN 5 B.

State budget deficit for 2010 was 4%, and the 1.9% percentage points' rise of Bulgaria's nominal budget positioning for 2011 amounts to BGN 1.24 B.

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Tags: budget deficit, state budget, revenue, spending, fiscal reserve, Ministry of Finance

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