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

Bulgaria's wine sector sees poor grape harvest amidst growing investment interest

In mid-September, the traditionally great Christian feast of the Holy Cross (September 14) marks the beginning of one of the most anticipated agricultural processes – the grape harvest campaign. 2025 is no exception, but due to a number of factors, the..

published on 9/18/25 1:10 PM

Before the introduction of the euro, companies and citizens are rapidly depositing money into banks

Bulgaria's Ministry of Finance placed 7-year government securities on the domestic market for 300 million leva. (144 million euros) and an interest rate of 3.25%. The submitted purchase orders amounted to 446 million leva with a coverage ratio of 1.49...

published on 9/17/25 8:45 AM

Bulgaria reports 0.1% monthly inflation for August

In August 2025, Bulgaria’s annual inflation rate stood at 5.3%, same as in July, according to data from the National Statistical Institute. Monthly inflation in August dropped to 0.1%, compared to 1.7% in July. Inflation measured from..

published on 9/15/25 1:44 PM

WEATHER

Pick city: Sofía

Clear
Min: 6 | Max: 24

BULGARIA IN PICTURES

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

Before the introduction of the euro, companies and citizens are rapidly depositing money into banks

Bulgaria's Ministry of Finance placed 7-year government securities on the domestic market for 300 million leva. (144 million euros) and an interest rate..

published on 9/17/25 8:45 AM

Bulgaria's wine sector sees poor grape harvest amidst growing investment interest

In mid-September, the traditionally great Christian feast of the Holy Cross (September 14) marks the beginning of one of the most anticipated agricultural..

published on 9/18/25 1:10 PM

Share

Finance Ministry forecasts lower budget deficit for 2020 than planned

More from category

Bulgaria's wine sector sees poor grape harvest amidst growing investment interest

Before the introduction of the euro, companies and citizens are rapidly depositing money into banks

Bulgaria reports 0.1% monthly inflation for August

Before the introduction of the euro, companies and citizens are rapidly depositing money into banks

Bulgaria's wine sector sees poor grape harvest amidst growing investment interest