Based on preliminary data and figures, Bulgaria’s finance ministry estimates that budget surplus will exceed BGN 2.3 B at the end of April, which is 2.6 % of projected GDP.

Higher revenues and shrinking expenditures continue to contribute to the improving budget stance compared to the same period last year.

The forecast of the ministry expects revenues to exceed BGN 12.1 B at the end of April, recording an increase of BGN 861.3 M compared to the first four months of last year.

Expenditures are estimated to exceed BGN 9.8 B, which will be a decrease of BGN 780.1 M compared to the same period last year.

The finance ministry also released its figures on the consolidated fiscal programme performance data as of March 31.

According to it, the consolidated fiscal programme balance at the end of March was positive, with the budget surplus exceeding BGN 1.8 B, which is 2.1 % of projected GDP. For comparison, budget surplus in the first quarter of last year amounted to BGN 255.9 M.

By the end of March, revenues and grants exceeded BGN 9 B, which represented an increase by more than BGN 1.3 B compared to the first quarter of 2015.

Expenditures exceeded BGN 7.2 B, registering a decrease of BGN 305. 7 M compared to the same quarter last year.

As of the end of March, Bulgaria’s fiscal reserve amounted to BGN 11.9 B, while government debt exceeded BGN 13.3 B, amounting to 29.3 % of the projected GDP.