Bulgaria’s fiscal reserve up 31% y/y at end-February
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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