Bulgaria’s central government budget is expected to show a surplus of BGN 601M equivalent to 0.7% of the projected 2015 GDP as of August 31, the Finance Ministry said on Monday.

The expected figure is improvement on end-August 2014, when the central government budget showed a deficit of BGN 1.28B, or 1.6% of GDP, the Finance Ministry said in a monthly budget forecast.

Based on preliminary data and estimates, the Finance Ministry expects to report BGN 21.52B in budget revenue and grants for the first eight months of the year, an increase of BGN 2.3B, or 12% over the same period of last year. The expected figure is 70.9% of the 2015 plan.

Budget spending including Bulgaria’s contribution to the EU budget, is expected to reach BGN 20.91B at end-August, which is 63.7% of the 2015 plan and an increase over the year-ago figure of BGN 20.49B.

Source