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

Petko Nikolov, minister of economy, visits state dairy LB Bulgaricum.

State dairy company LB Bulgaricum starts modernisation of its plant in Vidin

State-owned dairy company LB Bulgaricum will start modernising its production facility in Vidin in September. The first step will be to renovate the refrigeration units and repave the alleys leading to the workshops and the car park in..

published on 9/15/24 9:05 AM

Minister of Innovation proposes that civil servants should be provided with loans by BDB

The Minister of Innovation and Growth, Rosen Karadimov, has not given up on the idea of the Bulgarian Development Bank (BDB) granting preferential loans to those working in the public sector. In an interview with BNT, he said that..

published on 9/14/24 2:36 PM

Bulgarian protein bar maker expands operations

Bulgarian protein bar manufacturer Healthy Bars is planning to build a new factory in the capital's Vrabnitsa district. The Regional Inspectorate for Environment and Water has already been notified of the intention, and the company has announced that..

published on 9/14/24 9:35 AM