Rising Prices Hit Seaside Restaurants in Bulgaria This Summer
Prices in seaside restaurants across Bulgaria are rising this year, with a noticeable hike in some popular beachside dishes
Bulgaria's consolidated budget showed a surplus of BGN 2.35 B as of end-April, equivalent to 2.6% of the projected 2016 GDP.
This compared with consolidated budget surplus of BGN 1.07 B, equivalent to 1.2% of GDP at the end of April 2015.
Increased revenues as well as decreased spending in January-April 2016 compared with the equivalent period of last year were the main factors for the improved budget position, the Finance Ministry said in a statement on Tuesday.
Revenues and grants increased by 7.4% year-on-year, reaching BGN 12.17 B as of 30 April, or 36.9% of the 2016 plan. Tax and non-tax revenues collected in the first four months of the year grew by BGN 1.01 B compared to the equivalent period of 2015, while EU grants decreased by BGN 170 M.
Tax revenues including social security contributions increased by 10.5 % on the year in nominal terms, reaching BGN 9.19 B as of end-April, or 35.4% B of 2016 plan.
Revenues from indirect taxes rose most, increasing by 14.4% year-on-year to BGN 4.51 B as of 30 April, or 34% of 2016 plan. VAT revenue grew by BGN 394 M, reaching BGN 3 B, or 35.8% of plan.
Revenues from direct taxes totalled BGN 1.89 B for the first four months of 2016, or 40.3% of annual plan, increasing by 9.3% in comparison with the equivalent period of 2015.
Expenditure under Bulgaria’s consolidated budget, including the country’s contribution into the EU budget, totalled BGN 9.82 B as of end-April 2016, or 28.2% of 2016 plan. This compared with expenditure of BGN 10.26 B as of 30 April 2015, the Finance Ministry said.
The government’s fiscal reserve totalled BGN 12.3 B at the end of April 2016, including BGN 11.4 B deposited with Bulgaria’s central bank and commercial banks.
The Bulgarian National Bank (BNB) has announced that it will stop publishing the key interest rate following the country's adoption of the euro
Iliya Lingorski, a member of the Bulgarian National Bank's (BNB) Governing Board, highlighted the significant logistical challenges of adopting the euro in Bulgaria
The Bulgarian National Bank (BNB) has clarified the procedural changes that will take effect with the adoption of the euro as Bulgaria’s official currency.
During the one-month transition period after Bulgaria adopts the euro, ATMs across the country will distribute only euro banknotes
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