December 3 (SeeNews) - Bulgaria's finance ministry said that it expects the consolidated budget to show a surplus of 2.81 billion levs ($1.63 billion/1.44 billion euro) at the end of November, equivalent to 2.6% of the projected 2018 gross domestic product (GDP).
Consolidated budget revenues are expected to be 3.9 billion levs higher on the year at 35.8 billion levs at the end of November, or 93.7% of the full-year plan, boosted by increased tax and non-tax revenues, the ministry said in a statement on Friday, citing preliminary estimates.
Consolidated budget expenditures are projected to total 33.0 billion levs at the end of November, or 83.9% of the full-year plan. Consolidated budget expenditures at end-November 2017 amounted to 29.5 billion levs.
In a separate statement the finance ministry said that country's consolidated budget showed a surplus of 2.84 billion levs at the end of October, equivalent to 2.6% of the projected GDP.
Bulgaria's finance minister Vladislav Goranov said in October that the country is likely to end the year with a balanced budget or a surplus, due to improved tax collection and expenditure that has been budgeted but not made, mainly related to EU funds.
Bulgaria's 2018 budget targets a deficit equivalent to 1.0% of the projected GDP, which is expected to grow by a real 3.9% to 105.6 billion levs.
(1 euro = 1.95583 levs)