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Bulgaria's government approves 2021 budget with $3 bln gap

SOFIA, Oct 28 (Reuters) - Bulgaria’s government approved the 2021 budget draft with a deficit of 4.89 billion levs ($2.96 billion), equal to 3.9% of economic output, it said on Wednesday.

The government offers more support for those hit by the coronavirus crisis and boosts state sector wages and pensions in 2021, a year when general elections are due.

The Balkan country plans to end 2020 with a fiscal shortfall of 4.4% of GDP and said more than half of the deficit was a result of spending aimed at cushioning the coronavirus impact on the small and open economy. ($1 = 1.6545 leva) (Reporting by Tsvetelia Tsolova; Editing by Jon Boyle)

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