The Budget Surplus Reaches BGN 2 Billion at the End of July

The estimates of the Bulgarian Ministry of Finance show that by the end of July the budget is in excess of over BGN 2 billion, or 1.9% of the projected Gross Domestic Product for 2018. The amount is close to the reported surplus in the same period in 2017 - BGN 1.97 billion.

Until July, the budget revenues grew by 10.1% on an annual basis to over BGN 22.5 billion (includes both revenue and aid, taxes and social security contributions). The state expenditures are also rising - the increase is 10.7% to nearly BGN 19.9 billion. If the contribution to the EU budget is included, the amount reaches BGN 20.5 billion.

Until June the revenues increased by 10.1% above the last year's level. On the other hand, spending grew by 11%, with a total of 9.2 % that comes from the increase in staff accounts, social payments and investment. Capital expenditures at the end of June reach BGN 1.3 billion, which is over 1/5 of the planned investments for the year.

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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