Bulgaria with Balanced Budget for October 2009

Bulgaria Finance Ministry preliminary data for October 2009 show that monthly income exceeds expenditure by BGN 8 B. Photo by BGNES

Bulgaria's national budget for October is balanced, with revenues of BGN 8 M more than expenditure, the Finance Ministry has announced.

Revenues and subsidies of the Consolidated Fiscal Program (CFP) for October amounted to BGN 1,996 B while expenditure stood at BGN 1,988 B, according to preliminary data on implementation of the national budget issued by the Finance Ministry on Thursday.

Government expenditure has shrunk by almost 9% compared to October 2008. Definitive information on the status of the budget will be published at the end of November

A few days ago, Prime Minister Boyko Borisov patted himself on the back for having succeeded in balancing the budget, declaring that it had meant a huge effort on the government’s part.

He added that revenues were almost BGN 55 M and that expenditure had fallen by BGN 25 M.

“Achieving a balanced budget is a very important signal to business, investors and for entering the eurozone,” explained the Prime Minister.

According to Borisov, the state had begun to recover much of the expenditure it was obliged to lay out.

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