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(NW) Central Bank’s Budget for 2021 Set at Lv 132 Mln

December 24 (BTA) – The budget of the Bulgarian National Bank (BNB) for 2021 amounts to 131,841,000 leva, the central bank reported on its website on December 23. In 2020, BNB expects to have spent 110,354,000 leva, which is 93.2 per cent of the target. The BNB expenditures in 2021 will include an increase in staff expenditures, expenses for the bank’s participation in European organizations and institutions, depreciation, external services and social activities, as well as other administrative costs. Currency circulation expenditures are set at 34,067,000 leva, or 25.8 per cent of overall maintenance costs, which will be 2.1 per cent less than in 2020. The necessary amount of banknotes and coins was calculated by taking into account the increased demand for them, the need to replace worn-out banknotes and to keep up a stock of banknotes and coins. Expenditures for new banknotes in 2021 will be 22,449,000 leva, increasing by 40.5 per cent compared with the annual estimate for 2020. The printing of 152 million banknotes of four denominations is planned for 2021, compared with 131 million banknotes of five denominations for 2020. Expenditures for minting new coins in 2021 are estimated at 10,739,000 leva, or 40.0 per cent less than those for 2020. The total includes 9,807,000 leva for minting currency coins (down by 36.5 per cent compared with 2021) and 932,000 leva for commemorative coins. A total of 159 million currency coins will be minted in 2021. Expenditures for subscription-based maintenance of computer software products will be 6,291,000 leva, which is 17.3 per cent more than in 2020. The 2021 budget of BNB also includes 4.3 million leva to cover costs under agreements with the Ministry of Interior. This implies an increase by 10.3 per cent compared with 2020. BNB staff expenditures in 2021 will be 43,713,000 leva, increasing by 7,740,000 leva from 2020. Staff expenditures are projected at 33.1 per cent of total maintenance expenditures. The members of the BNB Governing Council will receive the following monthly remuneration: 20,313 leva for the governor, 17,411 leva for each deputy governor, and 5,804 leva for each of the other members. RY/VE //