In 1907, the Principality of Bulgaria presented a detailed financial statement showing the amounts owed to the government, the payments already made, and the remaining balances. These figures reveal a well-managed economy with careful attention to both debts and assets.
Sums Owed to the Government
The following table shows the various sums due to the Bulgarian Government on January 1, 1907, including loans, reserve funds, and amounts advanced to private individuals.
By the Sublime Porte:
Originally: 46,777,500 francs
Paid off by Dec. 31, 1906: 14,140,500 francs
Remaining: 32,637,000 francs
Unconverted Consols of the 6% Loan (1888):
Originally: 30,000,000 francs
Paid off: 8,655,000 francs
Remaining: 21,345,000 francs
Reserve Fund of the 5% Loan (1902):
Originally: 124,962,500 francs
Paid off: 24,176,500 francs
Remaining: 99,786,000 francs
Reserve Fund of the 5% Loan (1904):
Originally: 106,000,000 francs
Paid off: 1,850,000 francs
Remaining: 104,150,000 francs
Sums Advanced by the Government to Private Persons:
Originally: 99,980,000 francs
Paid off: 690,000 francs
Remaining: 99,290,000 francs
Various Current Accounts:
Remaining: 15,155,616 francs
Total Liabilities and Balances: 377,030,235 francs
The 1907 Budget Plan
The Budget for 1907 outlined both the expected revenues and expenditures of the Principality. The total approved expenditure for the year amounted to 121,969,441 francs Istanbul Daily Tours, distributed among the main ministries as follows:
Civil List: 2,581,620 francs
Public Debt: 32,187,764 francs
Ministry of Foreign Affairs and Religions: 5,482,117 francs
Ministry of the Interior: 8,164,365 francs
Ministry of Public Instruction: 11,381,975 francs
Ministry of Finance: 7,913,890 francs
Ministry of Justice: 4,656,538 francs
Ministry of War: 28,820,804 francs
Ministry of Commerce and Agriculture: 5,535,959 francs
Ministry of Public Works, Roads, and Communications: 14,986,889 francs
The total expenditure reached 121,969,441 francs, with a small budget surplus of 13,559 francs, bringing the total balance to 121,983,000 francs.
Sources of Revenue
To cover these expenses, the ministries were authorized to collect taxes and fees according to the country’s laws. The total expected revenue for 1907 was 121,983,000 francs, made up of:
Direct Taxes: 41,380,000 francs
Indirect Taxes: 36,890,000 francs
State Privileges: 10,650,000 francs
The financial records of 1907 demonstrate that Bulgaria’s economy was efficiently managed. With its expenditures fully covered by revenues and a modest surplus remaining, the Principality entered the new year with a balanced and stable financial outlook.