The government approved raising budget deficit to 2.7% in 2014 budget revision The government approved the proposed amendments to 2014 budget bill. The new budget envisions an increase of the fiscal deficit to 2.7% of GDP from 1.8% planned currently, assuming revenues will be BGN 500m shorter of previous budget. The government debt ceiling will be increased by BGN 3.425bn, incl. BGN 2.7bn for stabilisation of the situation around Corporate Commercial Bank while BGN 725m will be a buffer until the end of the year. The National Health Insurance Fund will receive additional BGN 225m, incl. BGN 200m for the hospitals and BGN 25m for medicine. The government also approved the issuance of state guarantee for BGN 2bn for the Deposit Insurance Fund (DIF). DIF would be allowed to issue BGN 2bn debt and the state will guarantee it. The new budget bill needs the parliament approval on first and second reading. Source: Dnevnik; FFBH
Posted on: Thu, 17 Jul 2014 08:29:36 +0000