Bulgaria’s Finance Ministry has recorded a consolidated Budget surplus of 1.7 billion leva in the first eight months of the year, or 1.1 per cent of this year’s estimated gross domestic product, exceeding the ministry’s forecast of 1.65 billion leva issued last month.
The figure represented a significant increase compared to the same period of 2021, when Bulgaria recorded a Budget surplus of 1.07 billion leva.
For September, the ministry forecast a Budget surplus of 1.06 billion leva at the end of the month.
The state Budget had a surplus of 1.04 billion leva in the first eight months of the year and the EU funds recorded a surplus of 657.8 million leva. Bulgaria’s contribution to the EU budget for January-August 2022 was 1.09 billion leva.
Revenue in January-August was 39.3 billion leva, up 17.4 per cent from last year. Tax revenues were 30.12 billion leva, an increase of 14.8 per cent, the ministry said.
Budget spending was 37.6 billion leva in the first eight months of the year, compared to 32.6 billion leva in the same period of 2021.