World Economy

Bulgaria Deficit Doubles

Bulgaria Deficit DoublesBulgaria Deficit Doubles

Bulgaria’s parliament approved on Wednesday a revised budget doubling the public deficit and raising the debt ceiling for 2014, to buttress the country against fiscal troubles after a bank failure, AFP reported. The new bill sees a deficit of 3.7% from 1.8% of output by year-end, and greenlights the issuing of new debt of up to 4.5b leva ($2.9b) by December 31.