site.btaFinance Minister Expects 2.5%, Instead of 3% Budget Deficit, Extra BGN 1 Bln for Municipal Projects

Preliminary data on the implementation of the budget show that the deficit will be lower than planned, Finance Minister Assen Vassilev said on Thursday after a meeting in the National Assembly with Foreign Policy Committee Chairman Boyko Borissov. "I expect the deficit to be 2.5%, not 3%. This will leave BGN 1 billion that we can use this year to help ourselves for next year's municipal projects," he added.

According to Vassilev, these data give grounds from the euro area perspective to say that the deficit criterion is fully met this year. The only thing that remains is the inflation criterion, Vassilev said. He added that inflation is largely "imported into Bulgaria" and comes through food and energy sources. According to him, in June-July 2024 Bulgaria is expected to meet this criterion as well, as prices are falling, and so the country can safely enter the euro area.