The Bulgarian Ministry of Finance expects the Consolidated Fiscal Program (CFP) balance on a cash basis in the first nine months of 2016 to be positive to the tune of EUR 1.7 billion, or 3.8% of the forecasted gross domestic product. In the first nine months of 2015 for example the surplus amounted to EUR 319 million only, or 0.7% of the country’s GDP. In September 2016 the volume of revenues exceeded the expenses, which was mainly due to higher tax and non-tax revenues in the state budget. The level of expenses remains low, because the largest investment cost disbursements are are usually made at the end of the year, when the works are received. The improvement in the current CFP balance resulting from the excess of revenues over EU fund expenditures is considerable, with the EU funds surplus being 1.6% of the projected GDP, the Ministry of Finance further informs.
“Bulgaria’s accession to the euro area will have a positive impact on the economy, the people, the business sector and the whole country”, said Minister of Economy Petar Dilov in an interview with public service broadcaster BNT. ''On January 1,..
The Association of Bulgarian Tour Operators and Travel Agents (ABTTA) expects tourism growth in Bulgaria to slow down due to the unfavourable economic situation in many of its source markets. It is not yet clear what effect Bulgaria's accession to the..
The expected adoption of the single European currency from January 1, 2026 is one of the many topics dividing society. In addition to being a cause for political quarrels, the euro is also a cause for concern among some Bulgarian..
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