Negative trend deepens

The deficit in June compared to the previous month is 380 million BGN, suggesting that depth have a negative trend, said Georgi Angelov, senior economist at the Open Society Institute. In his words, after the government of the triple coalition has failed to reduce the expenditure of the budget, this task will have to take the future cabinet.

This is a great challenge for managers to balance the budget, said the economist. In his words, as a larger deficit, the more severe is the recession that we expected. One way to avoid this is an update of the budget by reducing costs, says Angelov. In his actual budget surplus is not, as mentioned by Finance Minister Plamen Oresharski retired 0.3 percent of GDP for the first six months of the year are actually funds from the European Union, which has not yet been spent and are an account with the Central Bank.

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Finance