Bulgaria's consolidated budget gap shrank to less than 0.5% of GDP last year from 2% of GDP for 2011 and below the projected 1.3% of GDP, according to Finance Minister Simeon Dyankov.
The budget deficit for 2012 was BGN 370m, vs. a projection for BGN 1.1bn deficit, Dyankov told TV channel Nova on Sunday. The budget deficit for 2011 was BGN 1.53bn or 2% of GDP. The BGN 780m difference between the projected deficit and the actual figure will be allocated to revenues in the 2013 budget and will allow the government to raise the pensions in the country and to finance measures for reducing youth unemployment rate, Dyankov said.
The consolidated budget deficit on cash basis as of end-November was BGN 105.3m or 0.1% of GDPe*
*2012 GDPe of BGN 77 323m – source BNB