The caretaker cabinet has reduced the budget deficit for April to zero

For April, the budget deficit has been reduced to zero, so no funds from the Fiscal Reserve will be used to cover it. This was announced by acting Finance Minister Georgi Klissurski at a briefing following the government meeting on Wednesday.

He clarified that the €1.4 billion returned by the Bulgarian Development Bank was not used to achieve this result. Rather, the expenditures made during the month were fully covered by the revenues received.

Revenues are traditionally slightly higher in April – tomorrow, April 30, is the deadline for individuals to file their tax returns. But in addition to that, the caretaker cabinet has also curtailed unwarranted expenditures,” Klissurski said.

We recall that as of March (cumulatively), the budget deficit reached a record high for the period of 1.5 billion euros, or 1.2% of the projected gross domestic product (GDP).

Klisurski explained that in February – the last month under the Zhelyazkov cabinet – €900 million from the Fiscal Reserve was used to cover the shortfall in budget revenues. In March – the first month of the caretaker government – an additional €600 million was withdrawn from the reserve.

And I am happy to announce that we will not be using money from the reserve in April,” said the finance minister.

Translated with DeepL.