Bulgaria's FinMin Reports Budget Surplus of BGN 621.5 M at End of September

Business » FINANCE | October 31, 2015, Saturday // 14:49| Views: | Comments: 0
Bulgaria: Bulgaria's FinMin Reports Budget Surplus of BGN 621.5 M at End of September Main entrance of the Finance Ministry. File photo

The Finance Ministry of Bulgaria reported a budget surplus of BGN 621.5 M at the end of September, which represents 0.7 % of projected GDP.

For comparison, Bulgaria had a budget deficit exceeding BGN 1.4 B at the end of September last year.

At the end of September 2015, revenues and grants surpassed BGN 24.1 B, which represented an increase of 8.7 % compared to the same period last year.

Tax proceeds exceeded BGN 18.5 B, non-tax revenues surpassed BGN 2.8 B, while grants (including EU funds) were in the excess of BGN 2.7 B.

The expenditures, including the Bulgarian contribution to the EU budget, exceeded BGN 23.5 B, which represented an increase of 2.1 % compared to the end of September 2014.

Non-interest expenditures exceeded BGN 22.2 B, interest payments and Bulgaria's contribution to the EU budget amounted to respectively BGN 630.1 M and BGN 624.5 M.

As of September 30, the fiscal reserve amounted to BGN 10.1 B.

According to preliminary figures and estimates, the ministry expects a budget surplus of BGN 57 M at the end of October.

For comparison, Bulgaria had a budget deficit exceeding BGN 1.7 B at the end of October last year.

The ministry expects both revenues and expenditures to exceed BGN 26.5 B at the end of this year's October.

 

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Tags: Bulgaria, finance, surplus, deficit, budget, revenues, GRANTS, expenditures, EU
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