Text size

Finance Ministry forecasts lower budget deficit for 2020 than planned

published on 1/5/21 9:42 AM

Photo: Pixabay

The budget deficit for 2020 is expected to amount to BGN 3.6 billion (EUR 1.84 billion) instead of the BGN 5.2 billion (EUR 2.65 billion) recorded in the law. Bulgaria's Finance Ministry forecasts that the deficit will be 3% of the expected GDP. The funds are aimed at combating the effects of the pandemic. 2.8 billion (1.43 billion) was spent on various fiscal stimuli in the economy. BGN 800 million (EUR 409 million) were redirected from the funds under various EU programmes.

The total revenues in the treasury for 2020 will be BGN 44.2 billion (EUR 22.6 billion) compared to the preliminarily planned BGN 43.5 billion (22.2 billion). This is an overperformance in the revenue part by over 1.5% than what was planned.

Due to the measures for coping with the impact of with the pandemic, government spending last year amounted to BGN 47.8 billion (EUR 24.4 billion), while in 2019 it was BGN 45.2 billion (EUR 23.1 billion), BTA reported.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy finance ministry fiscal policy government spending revenue state budget

More from category

Eurostat: Annual inflation in Bulgaria in July is 3.4%

Inflation in the EU in July reached 2.4% on an annual basis , according to Eurostat data. Regarding Bulgaria, European statistics report an increase in inflation to 3.4% in July this year compared to the same month last year. According to this..

published on 8/20/25 3:15 PM

Investments from Italy, the Netherlands and Greece lead in the first half of the year

For the period January-June 2025, the net flow of foreign direct investment in the country reached EUR 848 million (0.8% of GDP), which represents a decrease of EUR 31.4 million compared to the same period in 2024. In June 2025, the flow was negative..

published on 8/18/25 5:19 PM

Bureaucracy and climate change are shrinking Bulgarian organic production

On the world map of organic agriculture, Bulgaria is not just a dot, but a colorful mosaic of food products, carrying the aroma and taste of unspoiled nature. Our organically certified areas produce crops sought after around the world – essential oil..

published on 8/14/25 11:50 AM

WEATHER

Pick city: Sofía

Partly Cloudy
Min: 15 | Max: 29

BULGARIA IN PICTURES

Which world-famous Bulgarian artist designed QSL cards for Radio Bulgaria?

Eurostat: Annual inflation in Bulgaria in July is 3.4%

Inflation in the EU in July reached 2.4% on an annual basis , according to Eurostat data. Regarding Bulgaria, European statistics report an increase in..

published on 8/20/25 3:15 PM

Share

Finance Ministry forecasts lower budget deficit for 2020 than planned

More from category

Eurostat: Annual inflation in Bulgaria in July is 3.4%

Investments from Italy, the Netherlands and Greece lead in the first half of the year

Bureaucracy and climate change are shrinking Bulgarian organic production

Eurostat: Annual inflation in Bulgaria in July is 3.4%