September 1 (SeeNews) - Bulgaria had a consolidated budget surplus of 4.2 billion levs ($3.2 billion/2.2 billion euro) in the first seven months of the year, up from a budget surplus of 2.4 billion levs a year earlier, the Finance Ministry said on Monday.
Following are preliminary figures for budget revenue and spending through July (in millions of levs):
|
Jan-July'08 |
Jan-July'07 |
2007 |
GOVERNMENT BUDGET |
|
|
|
Revenue |
11,283.5 |
9,142.4 |
16,181.4 |
Spending |
4,174.1 |
3,909.6 |
8,613.7 |
Net Transfers |
3,448.5 |
-2,744.7 |
-5.843 |
deficit(-)/surplus(+) |
+3,269.1 |
+2,179.6 |
+1,129.3 |
CONSOLIDATED STATE BUDGET |
|
|
|
Revenue |
16,442.4 |
13,222.4 |
24,063.2 |
Spending |
11,831.5 |
10,494.5 |
21,504.2 |
Net Transfers |
0.0 |
0.0 |
0.0 |
- transfers to EU budget |
-391.8 |
-308.430 |
-595.2 |
deficit(-)/surplus(+) |
+4,219.1 |
+2,419.4 |
+1,963.8 |
Central bank governor Ivan Iskrov earlier this year said that the budget surplus will be around 3.5% of the gross domestic product projected for the current year.
Bulgaria's coalition government, which faces elections next year, has targeted a budget surplus equivalent to more than 3.0% of gross domestic product projected for the current year. The country ended 2007 with a budget surplus equivalent to 3.8% of the projected gross domestic product.
The government's prudent fiscal policy is aimed at slowing the widening of the country's current account gap. Bulgaria ended 2007 with a current account gap equivalent to 21.5% of the projected GDP, compared to 17.8% in the previous year, mainly due to a widening trade gap.
(1 euro=1.95583 Bulgarian levs)