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Bulgaria's minfin sees end-July budget surplus at 798 mln euro

Bulgaria's minfin sees end-July budget surplus at 798 mln euro The Ministry of Finance building in Sofia. Source: Ministry of Finance, Facebook.

SOFIA (Bulgaria), August 2 (SeeNews) - Bulgaria's consolidated budget is expected to be in surplus of 1.56 billion levs ($816.8 million/797.6 million euro) at the end of July, the finance ministry said, citing preliminary data and estimates.

The surplus equals 1.1% of the country's gross domestic product (GDP) projected for 2022, the ministry said in a statement on Monday.

Consolidated budget revenue is expected to have added about 4.5 billion levs to roughly 33.8 billion levs in the first seven months of the year, or an increase of 15.5% compared to the same period of 2021. At this level, the revenue is equal to 56.6% of the full-year estimates.

Consolidated budget expenditure, including Bulgaria's contribution to the European Union budget, is seen at some 32.2 billion levs as at end-July, or 48.9% of the full-year plan. This compares to expenditure some 28.5 billion levs at the end of July 2021.

Bulgaria's consolidated budget showed a surplus of 1.18 billion levs in the first half of 2022, equivalent to 0.8% of the projected 2022 GDP, the finance ministry said in a separate statement on Friday.

For June alone, the excess of revenue over expenditure amounted to 574.5 million levs.

Compared to end-June 2021, revenue grew by close to 3.5 billion, or 14.1%, whereas expenditure amounted to some 27 billion levs against 24.6 billion levs in the like period of last year.

Bulgaria's contribution to the EU budget, paid as at June 30, stands at 812.8 million levs.

The end-June fiscal reserve totalled 9.5 billion levs, including 0.4 billion levs of receivables under the EU funds, the ministry noted.

(1 euro = 1.95583 levs)