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Bulgaria expects to end 2016 with budget surplus for first time since 2008
December 23, 2016 / 11:50 AM / 9 months ago

Bulgaria expects to end 2016 with budget surplus for first time since 2008

SOFIA, Dec 23 (Reuters) - Bulgaria expects to end the year with its first budget surplus since 2008, outperforming government forecasts of a 2 percent of gross domestic product deficit and well below the 2.9 percent fiscal shortfall in 2015, the finance ministry said on Friday.

The ministry said in a statement the economy’s performance was a result of consistent and balanced fiscal policy, aimed at ensuring a sustainable fiscal position in the medium term.

Three weeks ago, the parliament approved a state budget bill that projects a fiscal deficit of 1.4 percent of economic output as the country braces for months of political uncertainly and snap elections next spring.

Sofia plans to reduce its fiscal shortfall to 1.0 percent in 2018 and 0.5 percent in 2019. (Reporting by Angel Krasimirov; Editing by Louise Ireland)

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