Bulgaria’s Budget Has BGN 874 M Deficit

Bulgaria’s state budget accumulated BGN 874 M deficit in Q1 2014. 

According to estimates, this is about one half of the calculated deficit of BGN 1.5 B for the entire year. 

It is by BGN 76 M more than in Q1 of 2013 and, according to the Finance Ministry, was due to increased expenses for pensions and European programs.

At the same time, the fiscal reserve as of end of Q1 2014, has reached BGN 5.9 B. For comparison, in the same period of 2013, it was BGN 4.2 B.

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