June 1 (SeeNews) - Bulgaria's consolidated budget is expected to be in deficit of 1.2 billion levs ($655.5 million/613.5 million euro) for the first five months of 2023, as compared to a surplus of 600 million levs a year earlier, the finance ministry said.
The deficit for the January-May period is equivalent to 0.6% of the projected gross domestic product (GDP) for 2023, the ministry said in a statement on Wednesday, citing preliminary data.
Consolidated budget expenditure is estimated at 26 billion levs as at the end of May, up from 22.2 billion levs in the like period of 2022. The rise is chiefly due to increases in pension payments, subsidies and costs for maintenance and personnel.
Consolidated budget revenue is projected to have grown by 8.6% year-on-year to 24.8 billion levs in the review period.
The country's consolidated budget was in deficit of some 1.1 billion levs at the end of April, the finance ministry said in a separate statement on Wednesday.
Earlier this week, Bulgaria's caretaker government said it plans to propose to parliament another extension of the 2022 revised budget provisions beyond the current June 10 deadline to keep state systems running.
(1 euro = 1.95583 levs)