Bulgaria's fiscal reserve stands at BGN 5.1 bn, the budget surplus is almost BGN 62 mln for the first half of 2012

“Bulgaria's fiscal reserve for the first half of 2012 stood at BGN 5.1 bn,” Bulgarian Minister of Finance, Simeon Djankov, told his colleagues from the Bulgarian Cabinet, quoted by the Government Press Office.

For the first time since 2009, the balance under the Consolidated Fiscal Programme (CFP) for the first 6 months of the year is positive, the note of the Council of Ministers read. “As a result of the good parameters of the national budget revenue management and the strict expenditure framework, the budget balance under the Consolidated Fiscal Programme at the end of the first half of 2012 was at a surplus of BGN 61.9 mln (0.1% from the projected GDP).”

The balance is formed by a national budget surplus of BGN 465.9 mln and a deficit on EU programmes of BGN 403.9 mln. The budgetary position under the CFP at the end of the first half of 2012, compared to the deficit during the same period in 2011, is improving in nominal terms by BGN 712.7 mln, or 1% of GDP.

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