Bulgaria's consolidated budget deficit narrowed to BGN 350.2m in 2012 from BGN 1.49bn a year earlier, the finance ministry said. 2012 budget deficit is equivalent to 0.45% of the projected GDP for the year, considerably lower than the forecast of BGN 1.09bn or 1.3% of the projected GDP in the 2012 budget bill and compared to 2.0% budget deficit in 2011.
Last year Bulgaria's budget revenue amounted to BGN 27.5bn or 35.4% of the projected GDP. Expenditures totalled BGN 27.8bn or 93.2% of the projected amount. At the end of 2012, Bulgaria's fiscal reserves amounted to BGN 6.1bn, equivalent to 7.8% of the projected GDP.