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.
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
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!
The International Monetary Fund (IMF) has wrapped up its regular mission in Bulgaria
Bulgaria is on track to meet the inflation benchmark required for Eurozone membership by September
Bulgaria emerges as a surprising leader in the realm of gold ownership, securing its position among the top three countries in Europe per capita
Consumers may have noticed a slight uptick in fuel prices over the past month, with gasoline and diesel seeing modest increases in Bulgaria
Bitcoin, the leading cryptocurrency, has surged to a new record high, surpassing $70,000 for the first time and reaching a peak of around $71,300,
The National Statistical Institute (NSI) has released preliminary data revealing that Bulgaria's gross domestic product (GDP) experienced a modest growth of 1.8% in real terms in 2023
Norwegian Inspiration: Bulgaria's Move Towards Environmentally Friendly Prisons
Nexo Is Suing Bulgaria For Over $3 Billion