The Finance Ministry will seek to achieve a balanced budget in 2009 and 2010, Deputy Finance Minister Vladislav Goranov told journalists on Tuesday.
The Ministry's preliminary estimates show that the August deficit was 105 million leva, five times less than in July when it was 564.3 million leva, Goranov said. The fiscal reserves stood at 7,700 million leva in end-August.
Total revenues and aid in the fiscal program amounted to 16,700 million leva in the January-August period, 81 per cent of projections. These revenues are 51 per cent of the total for 2009.
Expenditures totalled 17,100 million leva at the end of August, 56.3 per cent of the annual projection, Goranov said. These expenditures break down as follows: 462 million leva in interest payments, 72.6 per cent of projections; 16,100 million leva in non-interest payments; and 491.4 million leva in an EU membership fee.
The January-August budget deficit was projected at 495 million leva.