Bulgarian FinMin Foresees 3.5 % Budget Surplus for First Half of 2016

Business » FINANCE | June 30, 2016, Thursday // 12:52| Views: | Comments: 0
Bulgaria: Bulgarian FinMin Foresees 3.5 % Budget Surplus for First Half of 2016 Bulgarian Finance Minister Vladislav Goranov. Photo: BGNES

Bulgarian Finance Minister Vladislav Goranov expects the budget surplus for the first six months of this year to be 3.5 % of projected GDP.

During a round table on Thursday, Goranov was firm that the figures will be far from the 2 % deficit, foreseen in the consolidated fiscal programme for this year.

According to him, this was a serious result which guaranteed the stabilisation of public finances, dnevnik.bg quotes him as saying.

The finance minister expressed modest optimism that in view of the geopolitical and economic instability in the surrounding environment, Bulgaria is performing relatively well and definitely much better than in the past years.

Goranov reminded that from the moment the incumbent government assumed office in November 2014, it has been committed to retaining the tax system and has taken serious efforts to increase the collection of revenues.

In his words, the government remained open to any proposals which would increase the capacity of the state to collect taxes and create competitive environment.

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Tags: Bulgaria, finance, budget, surplus, deficit, GDP, Vladislav Goranov, taxes, revenues
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