Bulgaria’s fiscal reserve increased by 31% y/y to BGN7.94bn (€4.06bn) at end-February, after rising by 7.6% y/y at end-January, data from the ministry of finance showed. In monthly comparison terms, the fiscal reserve increased by 11.4% at end-February, after dropping by 22.3% at end-January.
The fiscal reserve deposits went up 36.4% y/y to BGN5.68bn at the end of the second month of 2015. Deposits at the central bank rose by 21.7% y/y to BGN4.46bn. Deposits at commercial banks soared 2.4 times y/y to BGN1.22bn at end-February.
In addition, receivables from EU funds for certified expenditures, advances and others grew by 19% y/y to BGN2.26bn at end-February.
|Fiscal Reserve, BGNmn|
|Feb'14||Jan'15||Feb'15||% y/y||% m/m|
|Deposits at the c-bank||3,662.8||4,557.5||4,457.7||21.7%||-2.2%|
|Deposits at commercial banks||499.5||1,250.7||1,221.5||144.5%||-2.3%|
|Receivables from EU funds||1,898.7||1,321.3||2,260.7||19.1%||71.1%|
|TOTAL Fiscal Reserve||6,061.0||7,129.5||7,939.9||31.0%||11.4%|
|Source: Ministry of finance|
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