Bulgaria's minfin sees end-Nov budget gap at 0.6%/GDP

In the January-November period a year earlier, Bulgaria's consolidated budget was in deficit of 398 million levs.

Consolidated budget expenditure is seen at some 61.1 billion levs as of the end of November, up 4.2% in annual terms, the ministry said in a statement on Friday, quoting preliminary data. The rise is driven by higher social and personnel costs, as well as capital expenses.

Consolidated budget revenue is projected at 60.1 billion levs, compared to some 56.5 billion levs a year earlier.

In November, consolidated budget revenue is expected to be higher than expenses by some 400 million levs on the back of an increase in tax revenue.

Bulgaria's consolidated budget was in deficit of 1.44 billion levs at the end of October, equivalent to 0.8% of the forecast 2023 GDP, the finance ministry said in a separate statement on Friday.

Last month, the finance ministry said the budget deficit in 2023 is seen to amount to 5.8 billion levs, or 3.0% of the forecast GDP for this year.

(1 euro = 1.95583 levs)