22.12.2012

"The 2012 budget deficit will be lower than planned. The question is by how much. We are expecting it to be slightly over 1% of GDP", says Deputy Minister of Finance Vladislav Goranov in an interview for Banker Newspaper. The specific amount depends to a great extent on whether Brussels will pay for all the activities performed under EU projects for which the Ministry of Finance has submitted requests for payment. They total BGN 400 million, specifies Mr. Goranov.  

According to the Deputy Minister, the outstanding liabilities of the state will be reduced as well. He considers that this year municipalities have planned their expenditure quite conservatively, which allows them to spend on time without generating any further deficit that would put pressure on the central government budget.

Mr. Goranov also comments on the deliberations of the 2013 State Budget Law. He belies the opposition, who claim that the planned revenue is unrealistic and that there is more smuggling, by quoting data that take account of the increase in revenue from excise duties, higher VAT proceeds and other effects from the measures taken by the Ministry of Finance.