Bulgaria's Finance Ministry has announced that the
country's consolidated budget recorded a higher-than-forecast
0.3% of GDP surplus at the end of March. The 257.1m leva is in
contrast to the deficit of 105.5m leva just one month earlier, and
the consolidated budget deficit of 874m leva at the same period
last year.
It's the first time in six years that a surplus has been
recorded in the first quarter, and based on preliminary data, the
ministry now expects the surplus to increase to more than 1bn leva
for the end of April.
The first quarter 2015 surplus is comprised of 156.2m leva under
the national budget and 100.9m leva under EU funds.
In a statement, the finance ministry attributed the healthy
state of accounts to higher revenues primarily from indirect tax
(up 14.2% year-on-year), social security and health insurance
contributions.
