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Budget surplus reaches new record highs of BGN 1,535 million in September.
submited on 03.11.2005 in category Political stability | Fiscal affairs | Macroeconomic developments
submited on 03.11.2005 in category Political stability | Fiscal affairs | Macroeconomic developments
Recent data show that budget revenues continue to grow at rates far exceeding the expected pace. For the nine months till September consolidated budget revenues reach BGN 13,241 million, or 13.9% higher than the same period of 2004. Expenditures until September stood at BGN 11,706 million (13.4% growth over 2004). The resulting surplus of BGN 1,535 million exceeds the 2004 level for the same period by 18.1%. Compared to August, the surplus expanded by BGN 216 million.
By August the total public debt shrank further to EUR 6,913 million (from EUR 7,033 million in July), or 32.7% of forecasted 2005 GDP. The external component stood at EUR 5,484.
The fiscal reserve grew again to BGN 4.9 billion by the end of September to reflect the fiscal surplus.
By August the total public debt shrank further to EUR 6,913 million (from EUR 7,033 million in July), or 32.7% of forecasted 2005 GDP. The external component stood at EUR 5,484.
The fiscal reserve grew again to BGN 4.9 billion by the end of September to reflect the fiscal surplus.
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