THE MINISTRY OF FINANCE IS EXPECTING A SURPLUS TO THE AMOUNT OF BGN 601 MILLION UNDER THE CONSOLIDATED FISCAL PROGRAMME AS OF THE END OF AUGUST 2015
31.08.2015
Based on preliminary data and estimates the balance of the Consolidated Fiscal Programme as of 31.8.2015 is expected to be a surplus, amounting to BGN 601 million (0.7% of forecast GDP). As a comparison, for the same period of the previous year CFP reported a deficit in the amount of BGN 1,275,6 million (1.6% of GDP), i.e., if referred to GDP, the budget position has improved by 2.3 percentage points. The higher revenues and grants continue to be the main factors for the improved budget position as of end-August 2015.
Key CFP parameters on the basis of preliminary data and estimates
Revenues and grants under CFP as of 31.8.2015 are expected to be BGN 21,515.4 million (70.9% of the annual estimate), registered growth of 12.0% (BGN 2,300.2 million) compared to the same period of 2014. The growth as compared to the previous year is mainly due to the higher tax and non-tax revenues as well as to the higher receipts in terms of grants (funds reimbursed by the European Commission) which increased by BGN 1,567,9 million and BGN 732,3 million, respectively.
On the basis of operational data and assessments the expenditures under the Consolidated Fiscal Programme (including the contribution of the Republic of Bulgaria to the EU budget) as of August 2015 amount to BGN 20,914.4 million, which is 63.7% of the annual plan. The expenditures for the same period of the previous year are to the amount of BGN 20,490.7 million.
The part of Bulgaria's contribution to the EU budget, paid as of 31.8.2015 from the central budget, amounts to BGN 596.3 million, which complies with the current legislation on EU own resources, Council Decision 2007/436/EC, Euratom on the system of the Communities' own resources and Council Regulation (EC, Euratom) No 1150/2000 implementing Decision 2007/436/EC.
The statistical data and the Information Bulletin on the execution of the state budget and the key indicators of the Consolidated Fiscal Programme based on data from the monthly reports on the cash performance of the budgets of the first-level spending units will be published on the website of the Ministry of Finance at the end of September 2015.