Bulgaria’s Govt Approves Report on Budget Fulfillment for First Nine Months of 2016

Business » FINANCE | November 9, 2016, Wednesday // 20:20
Bulgaria: Bulgaria’s Govt Approves Report on Budget Fulfillment for First Nine Months of 2016 BGNES

The surplus in the budget amounted to BGN 3.362 B at the end of September. The government approved the report on the fulfillment of the state plan-account for the first nine months of 2016.

The surplus in the budget equals 3.8% of GDP. This is due to a surplus of nearly BGN 2 B under the national budget and BGN 1.5 B under European funds, which means that the utilization of planned capital expenses was lower, while the state spent less under European projects for the first nine months of 2016, compared to the same period of 2015.

At the end of September 2016, there were 8.3% more proceeds from taxes, contributions on an annual basis.

The fiscal reserve amounted to BGN 14.3 B on September 30.

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Tags: surplus, budget, fiscal, taxes, BNB, funds
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