Bulgaria Has Budget Surplus of BGN 890 M at End of JuneFinance | August 12, 2015, Wednesday // 14:59| views
Bulgarian Finance Minister Vladislav Goranov. Photo: BGNES
At the end of June, Bulgaria had a budget surplus of BGN 890 M, which represented 1.1 % of the projected Gross Domestic Product (GDP).
This was revealed after the regular meeting of the Council of Ministers on Wednesday, which approved the implementation of the government budget and the consolidated fiscal programme.
This excess is the result of a surplus of BGN 439.9 M under the government budget and a surplus of BGN 450.2 M under the EU funds.
This is a huge progress compared to the same month in 2014, when Bulgaria had a budget deficit of BGN 996.4 M, marking an improvement of 2.3 %.
This improvement is largely due to the growth in the collection of revenues under the government budget and the increase of grants.
The collected revenues and grants exceeded BGN 16.3 B, which was an increase of more than BGN 2 B or 15 % compared to June 2014.
The expenses exceeded BGN 15.4 B, which was an increase of BGN 246 M (1.6 %) compared to the same month in 2014.
At the end of June, the fiscal reserve stood at BGN 11B.
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