Bulgaria's Budget Deficit Down H1 2011 Y/Y

The Bulgarian Finance Ministry has registered a budget deficit of BGN 650 M for the first half of 2011 or 0.9% of the expected GDP.

In 2010, the budget deficit at the end of June, accumulated during the first six months of the year, has been BGN 1.5 B, or 2.2% from the Gross Domestic Product, GDP.

The Ministry, which is in charge of the monthly budget bulletin, further reports a BGN 53 M deficit for June.

The data is from the consolidated fiscal program, which includes the national budget (the cabinet funds, those of the National Health Insurance Funds, NZOK, the National Social Security Institute, NOI, and the funds of local municipalities) and the absorption of the EU funds.

The national budget deficit is BGN 455 M, the EU funds one – BGN 196 M.