FinMin: Bulgaria to End 2010 with Bigger Fiscal Reserve than Expected

Bulgaria will close the 2010 fiscal year with a BGN 6 B fiscal reserve, which is with 1/3 more than the initially previewed BGN 4.5 B reserve, according to finmin Simeon Djankov.

Speaking Thursday, the minister of finance specified that the exact figure is yet to be determined, but it is certain to be over BGN 6 B.

Djankov spoke highly of the level of revenue over the year, expressing satisfaction with the achieved results.

Bulgaria's state budget for 2010 was updated in July, setting a minimum reserve of BGN 4.5 B. There were persistent fears over the year that the cabinet might seriously deplete the reserve.

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