Bulgaria: Budget Deficit of 4.1% and Government Debt of 25.1% of GDP in 2021
The institutional sector "State Government" reports a budget deficit of BGN 5.433 billion, which is 4.1% of Bulgaria's gross domestic product (GDP), according to preliminary data from the National Statistical Institute.
In 2022, the deficit was 4% of GDP, and in the last year before the start of the coronavirus pandemic (2019), a surplus of 2.1% of GDP was reported.
The deficit in the “Central Government” subsector in 2021 amounts to BGN 6.389 billion or -4.8% of GDP. Last year, the “Local Government” subsector had a surplus of BGN 146 million, and the “Social Security Funds” subsector - a surplus of BGN 810 million.
At the same time, Bulgaria's debt for 2021 amounts to BGN 33.277 billion, which represents 25.1% of GDP and represents an increase in government debt of BGN 29.603 billion, or 2.47% of GDP in 2020. and BGN 24.085 billion, or 20.0% of GDP in the last pre-pandemic year (2019).
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