Bulgaria Budgets for BGN 500 M Deficit in 2009

Bulgaria Finance Minister Simeon Djankov stated that out of the allowed for BGN 500 M some BGN 400 M was handed down to the center-right GERB government by the previous governing Socialist-led tri-partite coalition. Photo by Sofia Photo Agency

A deficit of up to BGN 500 M will be budgeted for in 2009 the Bulgaria Parliament decided Wednesday after adopting the final update of the 2009 state budget.

Bulgaria Finance Minister Simeon Djankov stated that out of the allowed for BGN 500 M some BGN 400 M was handed down to the center-right GERB government by the previous governing Socialist-led tri-partite coalition.

Djankov said; "If you remember at the end of July, when we came to power, we found a BGN 386 M deficit... We had already reached balance by October, November we were in plus, in December we are hoping that the accounts go back to balance or a small plus.. So I am very pleased with what we have managed to do in 5 months.”

During the Parliament debate the rightist Blue Coalition Co-Chair, Martin Dimitrov, proposed to create a constant public link to the Treasury, to monitor expenditure.

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