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Bulgaria's Fiscal Reserve Grows by BGN 200 M in April 2010
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Bulgaria's Finance MInister Simeon Djankov believes that his fiscal program is going to achieve tangible results by the end of 2010. Photo by BGNES
Bulgaria's fiscal reserve amounted to about BGN 6.6 B at the end of April 2010, the Finance Ministry announced.
According to preliminary data and estimates, BGN 6.0 B of the fiscal reserve is at the Bulgarian National Bank (BNB), and the remaining BGN 0.6 B are deposited in commercial banks – including mostly deposits of the National Fund of EU Pre-Accession Programs.
Thus, Bulgaria’s fiscal reserve is reported to have grown by BGN 0.2 B, which is primarily the result of the increase of state revenues under the consolidate fiscal program for April.
The country's fiscal reserve amounted to BGN 6.4 B on March 31, 2010, including BGN 5.7 B in the BNB, and BGN 0.7 B in commercial bank deposits.
The Finance Ministry has pointed out that April is the first month since the beginning of 2010 when state revenues exceeded state is expenditures. It says that crude states place the April surplus at about BGN 300 M; the initially reported figure was BGN 213 M.
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