/ world today news/ Bulgaria‘s budget deficit as of January this year grew by 80% compared to a year earlier, Reuters agency points out in an analysis of the financial situation in Bulgaria amid a political crisis.
For the reporting period, the deficit amounted to 536.5 million. BGN – at 298 mln. as of January 2012 The government of Boyko Borissov, who resigned on February 20 amid protests against high electricity prices and low living standards, planned a deficit of 1.3% for 2013, up from 0.5% in 2012, the agency said.
The explanation for the growth of the retired finance minister Simeon Dyankov was related to large payments on the country’s foreign debt, contributions to the EU and the low tax base.
“The jump in the budget deficit was expected, it is a controlled process. I do not see fiscal abuses in the light of the upcoming elections,” commented financial analyst Lachezar Bogdanov from “Industry Watch”.
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