Budget surplus growing
As of the end of April 2024, the budget balance had a surplus of 0.6 billion levs (0.3% of estimated GDP), the Ministry of Finance announced. Revenues as of April 2024 are up about 14.5% year on year.
Tax revenues grew by about 8.1%, aid and donations - more than doubled, and non-tax revenues grew by 18.3%.
In April, 300 million levs were reported as an extraordinary expense for pensions, which according to the calendar should be paid in May, but because of the many days off, were set aside for the previous month.
Bulgaria to prioritize OECD accession
Bulgaria will undergo the largest possible number of reviews in the committees of the Organization for Economic Cooperation and Development (OECD) to expedite the accession process, said acting Prime Minister and Minister of Foreign Affairs Dimitar Glavchev at his meeting with OECD Secretary General Matthias Korman. The two were meeting within the framework of the OECD Ministerial Council Meeting in Paris.
Glavchev indicated that Bulgaria is ready for intensive negotiations. Currently, the OECD has 38 member countries, including the most developed economies.
April sees highest electricity exports for over a year
In April Bulgaria reported a record low electricity generation from coal and a record high from solar, whilst electricity exports were at their highest level since January 2023.
Kapital analysis highlights certain issues behind these facts. As the share of solar plants increases, it becomes increasingly difficult to balance the system, as there is a lack of energy storage systems and adequate replacement capacity. The analysis for April shows that the electricity system can overflow and experience a shortage within a few hours.
Budget surplus growing
As of the end of April 2024, the budget balance had a surplus of 0.6 billion levs (0.3% of estimated GDP), the Ministry of Finance announced. Revenues as of April 2024 are up about 14.5% year on year.
