Bulgaria raises 2019 fiscal shortfall over F-16 aircraft buy

Bulgaria's government decided on Monday to increase its 2019 fiscal deficit to 2.2 billion levs ($1.27 billion) or about 2% of economic output as it prepares to finance the purchase of eight new F-16 fighter jets from the United States.

The decision is pending parliament approval. On Friday, the finance minister said a good economic outlook and the budget performance so far allowed Sofia to pay $1.26 billion for the warplanes in full this year.