Bulgarias cons budget deficit narrows 60% y/y in Jan-Apr 2012.

By bne IntelliNews May 18, 2012
Bulgarias consolidated budget deficit shrank by 60% on the year to BGN 217mn (EUR 111mn) in the first four months of 2012, according to preliminary data of the finance ministry. In April alone, the consolidated budget posted its highest surplus since January 2009 as revenue went beyond expenses by BGN 469mn thanks to higher tax revenue collection. The four-month VAT revenue was up by a nominal 22.1% on the year, while excise revenue was 6.9% higher in annual terms. The ministry will published detailed data on the January-April fiscal performance later this month. The countrys fiscal reserve stood at BGN 4.9bn at the end of April.

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