Bulgaria’s Finance Ministry has recorded a consolidated Budget surplus of BGN 1.52 billion in the first seven months of the year, or one per cent of this year’s estimated gross domestic product, falling short of the Ministry’s forecast of BGN 1.56 billion issued last month.
The figure represented a significant increase compared to the same period of 2021, when Bulgaria recorded a Budget surplus of BGN 705.2 million.
For August, the Ministry forecast a Budget surplus of BGN 1.65 billion at the end of the month.
Revenue in January-July was BGN 33.83 billion, up 15.7 per cent from last year. Tax revenues were BGN 26.11 billion, an increase of 14.7 per cent, the Ministry said.
The Finance Ministry said that the biggest revenue contribution came from value-added tax on imports, in particular the more expensive raw materials that made up the bulk of imports from third countries.