The budget deficit will increase to 3 billion euros by the end of August, according to the forecast of the Ministry of Finance. This is 2.6% of GDP, the same ratio as last year at this time. Then our country ended the year with a deficit of over 3.5 percent, BNT reported.
Revenues by the end of August are now over 30 billion euros or 11.9% more than last year.
Expenditures are also growing, but more slowly - the increase is 11.8 percent. The main reason for the increase in the deficit is the payments made under the recovery and sustainability plan by the end of August. Until Bulgaria receives the money back from Brussels, the budget will have an increased deficit.