Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

No budget over-performance expected in Bulgaria until the end of 2022

Bulgaria's caretaker Minister of Finance Rositsa Velkova
Photo: BGNES

Saving is the only way to finance extra expenditure until the end of the year, as no revenue over-performance is expected, Bulgaria’s caretaker Minister of Finance Rositsa Velkova said. Minister Velkova pointed out that the mid-year budget overperformance is temporary and that capital spending is mostly from EU funds, the BTA reported.

According to Minister Velkova, there will be savings from capital expenditures, but their amount will be insignificant. EUR 35 million will be earmarked for unforeseeable costs - for the forthcoming snap elections and for the accommodation of Ukrainian refugees.

In 2022, the country’s gross domestic product (GDP) will grow 2.9%. In 2023, Bulgaria’s GDP is expected to increase with 2.2%. The National Assembly raised the government debt ceiling to EUR 5.2 billion in 2022. So far, Bulgaria has issued government bonds to the tune of EUR 900 million. The deficit under the consolidated fiscal programme for 2022 will be 4.1% of the projected GDP and the General Government Sector’s deficit will reach 6% of the GDP. In 2023, the deficit under the consolidated fiscal programme is expected to stand at 6.8% of the GDP and the General Government Sector’s deficit will be 6.4% of the GDP, Rositsa Velkova said.




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

The new week starts with some clouds

Monday will be mostly sunny with scattered high clouds. The lowest temperatures will be between 0° and 5°C; in Sofia - about 1°C, and the highest will reach between 13° to 18°C; in Sofia - about 14°C. In the mountains it will..

published on 11/3/24 6:15 PM
Slavi Trifonov

ITN launches petition for partial cassation of the elections

On the first day of the 51st parliament, ITN will initiate the collection of signatures for submitting a complaint to the Constitutional Court concerning the partial cassation of the elections, party leader Slavi Trifonov announced on..

published on 11/3/24 3:42 PM
Kostadin Kostadinov

Vazrazhdane party calls for recount of the votes in the elections

Vazrazhdane calls for a recount of the votes from the early parliamentary elections, party leader Kostadin Kostadinov has told BNR. "It will perhaps show that there are protocols that do not match with the contents of the bags with..

published on 11/3/24 3:00 PM