Text size

Finance Ministry forecasts lower budget deficit for 2020 than planned

published on 1/5/21 9:42 AM

Photo: Pixabay

The budget deficit for 2020 is expected to amount to BGN 3.6 billion (EUR 1.84 billion) instead of the BGN 5.2 billion (EUR 2.65 billion) recorded in the law. Bulgaria's Finance Ministry forecasts that the deficit will be 3% of the expected GDP. The funds are aimed at combating the effects of the pandemic. 2.8 billion (1.43 billion) was spent on various fiscal stimuli in the economy. BGN 800 million (EUR 409 million) were redirected from the funds under various EU programmes.

The total revenues in the treasury for 2020 will be BGN 44.2 billion (EUR 22.6 billion) compared to the preliminarily planned BGN 43.5 billion (22.2 billion). This is an overperformance in the revenue part by over 1.5% than what was planned.

Due to the measures for coping with the impact of with the pandemic, government spending last year amounted to BGN 47.8 billion (EUR 24.4 billion), while in 2019 it was BGN 45.2 billion (EUR 23.1 billion), BTA reported.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy finance ministry fiscal policy government spending revenue state budget

More from category

Bulgargaz proposes 8% increase in natural gas price for November

The Bulgarian state-owed natural gas supplier Bulgargaz has proposed that the price of natural gas for November increases by around 8% to nearly 66 BGN per megawatt-hour, excluding fees and taxes, reported BNR's journalist Yuliana Kornazheva. The..

published on 10/16/25 5:18 PM

BNB calls on the state to pursue conservative financial policy

The growth of the national economy in the second quarter of 2025 accelerated by 3.5% on an annual basis. According to an analysis by the Bulgarian National Bank - BNB, the main factors for the acceleration are the decrease in imports..

published on 10/16/25 11:28 AM

Bulgaria’s Minister of Finance proposes that December 31 and January 2 be declared non-working days due to euro changeover

For the first time, Bulgaria’s Minister of Finance Temenuzhka Petkova took part as an observer in the regular meeting of the Eurogroup held in Luxembourg, the Ministry of Finance said. Until now, Bulgaria has only participated in Eurogroup..

published on 10/10/25 10:30 AM