October 3 (SeeNews) - Bulgaria's consolidated budget deficit shrank to 731.1 million levs ($498.6 million/373.9 million euro) through August from 1.537 billion levs a year ago, finance ministry figures showed.
The eight-months deficit is equivalent to 1.0% of the gross domestic product (GDP) projected for 2011, the ministry said in a statement released on Sunday.
In the January-August period of 2010 the gap was equivalent to 2.2% of the GDP projected for last year.
Following are details of the January-August budget revenue and spending released by the finance ministry (in millions of levs):
|
Jan-Aug'11 |
Jan-Aug'10 |
End-2010 |
GOVERNMENT BUDGET |
|
|
|
Revenue |
10,598.9 |
9,731.9 |
15,229.5 |
Spending |
4,589.3 |
4,784.0 |
16,865.4 |
Net transfers |
-5,357.1 |
-5,704.8 |
-8,363.8 |
deficit(-)/surplus(+) |
186.2 |
-1,223.7 |
-1,565.9 |
CONSOLIDATED STATE BUDGET |
|
|
|
Revenue |
16,241.8 |
15,301.8 |
23,931.9 |
Spending |
16,506.6 |
16,371.8 |
26,045.6 |
Net Transfers |
0.0 |
0.0 |
0.0 |
- transfers to EU budget |
466.3 |
466.7 |
669.7 |
deficit |
-731.1 |
-1,536.7 |
-2,783.4 |
Bulgaria closed last year with a budget deficit of 2.8 billion levs, equivalent to 3.9% of the projected GDP. The government plans to bring down its budget shortfall to 2.5% of GDP this year.
(1 euro = 1.95583 Bulgarian levs)