Bulgaria’s budget deficit expected to reach €1.75 billion by end of April

Bulgaria’s budget deficit is expected to reach EUR 1.75 billion by the end of April, the Ministry of Finance announced. This is about 1.4% of the country’s projected GDP. The deficit has increased by around EUR 750 million compared to the same period last year, the Finance Ministry said.

On a monthly basis, the deficit rose by EUR 221 million. At the same time, budget revenues from taxes and grants have increased by EUR 1.8 billion compared to the same period last year, while non-tax revenues declined by EUR 300 million.

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The increase in expenditures is mainly in social and healthcare payments, including pension costs, as well as personnel expenses, capital expenditures, and others.

Edited by Ivo Ivanov

Translated by Kostadin Atanasov