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Bulgarian gov't expects no more than 2 pct budget deficit for 2016

Xinhua, October 30, 2015 Adjust font size:

The Bulgarian budget deficit should be no more than 2.0 percent of GDP (gross domestic product) in 2016, according to a draft law approved by the country's government on Friday.

"This is not the best budget for the government but it is the possible budget, which takes into account all the realities and needs that the state will have next year," the country's Minister of Finance Vladislav Goranov told a press conference.

The most important thing was that this budget would ensure stability amid the problems in the surrounding environment, related not only to economic, but also global security, Goranov said.

Accrual-based deficit will stay below 3.0 percent of GDP in 2015, while in 2017 and 2018 the projected deficit is 1.4 percent of GDP and 1.0 percent of GDP respectively, the government said in a press release. Endit