The Bulgarian Ministry of Finance announced on June 30th that the consolidated budget balance for January-May 2021 shows a deficit of 140.6 million leva, lower than the 173 million leva forecast by the ministry last month.
This was a sharp decrease from the previous year when Bulgaria recorded a budget surplus of 1.31 billion leva in the first five months of the year. For the first half of this year, the Ministry forecast a budget surplus of 82 million leva at the end of June due to higher revenues from annual corporate tax returns due in June.
The state budget showed a surplus of 58.5 million leva at the end of May and the EU funds a deficit of 199.1 million leva. Bulgaria’s contribution to the EU budget was 683.2 million leva in the first five months of 2021.
Sales from January to May amounted to 20.48 billion leva, an increase of 16.1 percent over the same period last year. Tax revenues amounted to 15.73 billion leva, an increase of 12.3 percent compared to January-May 2020.
The budget increased in the first five months of the year to 20.62 billion leva compared to 16.32 billion 19, as well as higher expenditures in the social area, announced the ministry.
(Photo: Pedro Moura Pinheiro / flickr.com)
For the rest of The Sofia Globe’s ongoing coverage of the Covid-19 situation in Bulgaria please click here.
The Sofia Globe’s reporting on the Covid-19 situation in Bulgaria is supported by the embassies of Switzerland and Finland.
Please support independent journalism by clicking the orange button below. For just three euros a month or the equivalent in other currencies, you can support The Sofia Globe via patreon.com and get access to exclusive content for subscribers only:
Become a patron!