The Bulgarian parliament passed the 2016 state budget this week. Next year’s budget deficit is forecasted at 2 percent of GDP, while the 2015 deficit is expected to hit 3.3 percent of GDP, exceeding the 2.9-percent target. The economy is expected to grow 2.1 percent in 2016, with the debt ceiling increasing to BGN 22.6bn. The government cabinet is allowed to borrow up to BGN 5.3bn in 2016.
