Bulgaria's general government budget deficit reached EUR 232.2 million in April. The cumulative deficit for January to April stands at EUR 1.8 billion, a 79.9% year-on-year increase, representing 1.5% of GDP. Revenues grew 3.2% while expenditures rose 9.2% in April.
The widening budget deficit and increased government spending could impact Bulgaria's fiscal stability and potentially influence its adherence to EU fiscal rules.
Bulgaria's general government budget reported a deficit of EUR 232.2 million in April. This contributed to a cumulative deficit of EUR 1.8 billion for the period of January to April, marking a significant year-on-year increase of 79.9%. This deficit represents 1.5% of the country's Gross Domestic Product (GDP).
In April alone, budget revenues saw a year-on-year increase of 3.2%, reaching EUR 4.0 billion. However, total government expenditures grew at a faster pace, rising by 9.2% year-on-year during the same month.
Looking ahead, the Bulgarian government plans to adjust social security thresholds, increasing both the maximum and minimum amounts effective August 1. Additionally, pensions are scheduled to be raised by 7.8% starting in July.
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