Name of law
Law amending the Law on the State Budget




Name Bill
Bill amending the Law on the State Budget





Date of adoption
30/06/2011



Number / year Official Gazette
54/2011







DECREE № 170
Pursuant to Art. 98 pt. 4 of the Constitution of the Republic of Bulgaria
DECREE:
To be published in the "Official Gazette" Law amending the Law on the State Budget adopted by HLI National Assembly on June 30, 2011
Released in Sofia on July 7, 2011
President of the Republic, Georgi Parvanov
stamped with the state seal.
Minister of Justice Margarita Popova

Law amending the Law on the State Budget (prom. SG. 67 of 1996 .; amend., SG. 46 of 1997 . No.. 154 of 1998, pcs. 74 2002 SG. 87 of 2005 .; corr. SG. 89 of 2005 .; amend. pcs. 105 of 2005 pcs. 80 of 2007 and SG. 98 of 2008)
§ 1. Article 3 shall be amended as follows:
"Art. 3. (1) The budget balance represents the difference between income and expenses that are not part of the funding under par. 5.
(2) The excess of revenues over expenses under par. 1 budget surplus - a surplus.
(3) The excess of spending over revenue under par. 1 is a negative budget balance - deficit.
(4) The financing equals the budget balance with the opposite sign.
(5) The elements of funding are proceeds and repayment of external and internal loans operations with government securities, proceeds from privatization, cash operations acquisition and sale of financial assets, other financing and changes in the availability of funds. "
§ 2. A Art. 12:
"Art. 12a. The maximum amount of expenditure under the consolidated fiscal program can not exceed 40 per cent of projected gross domestic product. "
§ 3. In art. 14 para. 2 is amended as follows:
"(2) The budget forecast is an estimate of the projected parameters of the consolidated fiscal program for the next three years, which is updated annually and approved by the Council of Ministers."
§ 4. In art. 20, para. 4 is a second sentence: "When the budget balance under the consolidated fiscal program is a deficit, it can not exceed 2 percent of gross domestic product."
Final provision
§ 5. The Act comes into force on January 1, 2012
, the law was adopted by the 41 th National Assembly on June 30, 2011 and was affixed with the official seal of the National Assembly.
Chairman of the National Assembly Atanas Atanasov
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