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

New attempt to elect speaker 18 days after the opening of the 51st National Assembly

Bulgarian MPs are meeting today for the seventh time in an attempt to elect a speaker of the 51st National Assembly after the first six failed to produce a result. This is how the first session of the new parliament, which began on November 11, continues..

published on 11/28/24 7:40 AM

Sunny weather in most of Bulgaria on Thursday, with fog near rivers

Overnight it will be clear. The wind will die down in most areas. After midnight along the Danube River, in lowlands and near rivers fogs will form and visibility will be reduced with low clouds. Minimum temperatures will be between minus 3°C and 2°C,..

published on 11/27/24 7:25 PM

EU ambassadors reach agreement on Bulgaria’s entry into Schengen by land

The ambassadors of the EU Member States have reached a preliminary agreement on the draft decision to abolish checks at internal land borders for Bulgaria and Romania. This is planned to happen on January 1, 2025. The decision is expected to be finally..

published on 11/27/24 5:45 PM