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Bulgaria Budget Surplus Falls by 35% in February 2009

Date: 03.04.2009

Bulgaria's budget surplus decreased by 35% month-on-month in February 2009, reaching BGN 587 M, data of the Finance Ministry shows.

The report says that state's spending for the first two months of 2009 increased by 12% year-on-year to BGN 3,68 B. Meanwhile, income for the same period rose by 9.9%, and was BGN 4,27 B.

Indirect taxes, the main state's income source, fell by 2,4% in January and February 2009 year-on-year. In 2009's budget a surplus of 3% of GDP was provided. Many financial analyzers think that tax income will fall over decreased economic and trade activity, and it will be extremely difficult for the state to keep the budget plan, the Pari Daily commented.

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