January 4 (BTA) - It is realistic to approve the 2022 state budget in February if a public debate over the draft budget starts by mid-January and it is submitted to Parliament by the end of January, Finance Minister Assen Vassilev told journalists here on Tuesday.

Vassilev argued that there will certainly be a budget deficit but it is expected to be under 3.0 per cent of GDP, excluding the anti-epidemic measures. The measures against the spread of coronavirus will raise the state budget deficit just over the 3.0 per cent threshold, he said.

The state budget will be updated mid-2022 as previously negotiated in the Cabinet-formation talks, Vassilev stressed.

The budget deficit for 2021 was 3.0 per cent of GDP, which was 0.6 per cent less of the expected updated budget deficit for 2021 as revenue collection in 2021 increased by 7.9 billion leva, year on year, he added.