Finance Ministry records Budget deficit of 972.1M leva between January-July 2024
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Loading... - Gregor Berger
- 05 Sep 2024
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Bulgaria's Finance Ministry has reported a consolidated budget deficit of 972.1 million leva for the first seven months of 2024, equivalent to 0.5% of the country's estimated gross domestic product (GDP) for the year. This represents a significant shift from the same period in 2023, when Bulgaria recorded a budget surplus of 455.3 million leva.
The budget balance for 2024 was influenced by a 1.2 billion leva transfer allocated from the previous year's budget to fund municipal projects throughout the year. When excluding this one-time transfer, the adjusted budget deficit for January to July 2024 stands at 2.17 billion leva.
Revenue during this period reached 40.85 billion leva, marking an 8.9% increase compared to the same timeframe in 2023, with tax revenues contributing 32.38 billion leva, a 12.2% rise.
On the expenditure side, budget spending totaled 41.82 billion leva, up from 37.06 billion leva in the previous year. However, when adjusted to exclude the one-off transfer, total spending for the first seven months of 2024 is estimated at 43.02 billion leva.
