site.btaFinance Ministry Draft State Budget Plans for 4.1% Deficit of GDP in 2022

January 21 (BTA) - The 2022 draft budget envisages revenue to stand at 57,253.2 million leva, and expenditures, at 63,153.8 million leva, said the Ministry of Finance on Friday.

The deficit is expected to be 5,900.3 million leva or 4.1 per cent of the projected GDP. The Finance Ministry forecasts a GDP growth of 4.8 per cent, unemployment of 5 per cent, and average annual inflation of 5.6 per cent.

The minimum wage is expected to increase to 710 leva in April, from 650 leva at the moment. Personal and corporate income tax remain the same at 10 per cent, VAT also remains unchanged at 20 per cent. Certain products and services will be taxed at a reduced rate of 9 per cent VAT.