Text size

Expected deficit at the end of last year exceeds €3 billion

published on 1/3/25 9:24 AM

Photo: BTA

Based on preliminary data, the Finance Ministry expects a deficit of around BGN 6.1 billion (€3.11 billion), or 3% of the projected gross domestic product (GDP), at the end of 2024.

"Estimates suggest that the deficit will show an improvement compared to the level of BGN 6.2 billion (€3.17 billion) projected in the annual budget plan," the ministry's statement said. The institution also noted that significant efforts have been made to improve revenue collection and control expenditure pressures.

Revenue for last year is expected to be around BGN72bn (€36.8bn), or 95.6% of the annual forecast. The shortfall is mainly due to "lower than planned revenues from grants and donations under EU funds (due to the non-receipt of the second and third tranches under the Recovery and Resilience Plan)," the ministry said.

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

Radio Bulgaria Economy 3 per cent of gdp deficit economy euro

More from category

GDP up by 2.4% during the third quarter

The Gross Domestic Product has gone up by 2.4% during the third quarter of the year compared to the same period of 2023, indicate preliminary National Statistical Institute data. This indicates there is a certain acceleration of the growth..

published on 12/6/24 5:45 PM

The banks are ready for the euro, now politicians should make a move, BNB governor says

A year with good results in the banking sector, achieved in a difficult domestic and external environment. This is how the governor of the Bulgarian National Bank (BNB), Dimitar Radev, assessed the outgoing 2024 in an interview with..

published on 12/6/24 10:52 AM

President of Vienna Chamber of Commerce and Industry: Bulgaria’s full membership of Schengen will accelerate business relations with Austria

Bulgaria and Romania will be fully admitted to the Schengen area, said Walter Ruck, President of the Vienna Chamber of Commerce and Industry said during a meeting with Bulgarian Vice President Iliana Iotova in Vienna. Austrian businesses have always..

published on 12/5/24 12:12 PM

WEATHER

Pick city: Sofía

Mostly Cloudy
Min: -2 | Max: 7

BULGARIA IN PICTURES

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

A 100 square meter apartment in Bulgaria costs 199 average monthly salaries

In 11 district cities in Bulgaria, 1 square meter of residential space costs under EUR 1,000. In 13 district cities, the price ranges from EUR 1,000 to..

published on 1/6/25 10:10 AM

Share