Bulgaria’s budget deficit in end-2011 lower than projected

Bulgaria’s budget deficit in end-2011 was lower than projected – BGN 1.58 billion or 2.1% of GDP, the Finance Ministry announced Wednesday. The forecasted deficit was over BGN 1.9 billion or 2.5% of GDP. Bulgaria’s fiscal reserve was BGN 5 billion in end-2011, the Trud daily learned. The ministry’s data also shows budget revenues amounted to BGN 830 million (3.4%) less than forecasted mainly due to a slow down in payments from EU funds - BGN 1.34 billion by end-December instead of the projected BGN 2.1 billion.
 

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