Bulgaria’s finmin sets 2013 GDP growth at 1.9% in budget draft

Budget revenues next year are expected to increase by 1.8 billion levs, providing the resource needed for the planned rise in expenditures on social welfare, education, culture, environment protection and infrastructure, the finance ministry said in a press release.

The draft sets budget deficit at 1.1 billion levs, or the equivalent of 1.3% of the projected gross domestic product (GDP). The budget debt ceiling is set at 14.6 billion levs, or 17.8% of GDP.

Foreign direct investments in the country are expected to reach 4.2% of GDP in 2013, up from a projected 3.8% of GDP for this year.

(1 euro = 1.95583 Bulgarian levs)