31.07.2015

Based on preliminary data and estimates the Consolidated Fiscal Programme (CFP) is expected to have a surplus of BGN 801 million (1.0% of forecasted GDP) as of 31.07.2015. For comparison, in the same period of the previous year CFP had a deficit in the amount of BGN 1,147.2 million (1.4% of GDP), which means that as a relative share of GDP the budget position has improved by 2.4 percentage points. The higher revenues and grants continue to be the main factors for the improved budget position as of July 2015.

Key CFP parameters on the basis of preliminary data and estimates:

Revenues and grants under CFP as of 31.07.2015 are expected to be around BGN 19,035.2 million (62.7% of the annual estimate). As of end-July, revenues register a significant growth of 13.0% (BGN 2,194.7 million) compared to the same period of 2014. The growth as compared to the previous year is 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 1,370.7 million and BGN 824.0 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 July 2015 amount to approximately BGN 18,234.2 million, which is 55.5% of the annual plans. The expenditures for the same period of the previous year are to the amount of BGN 17,987.8 million.

The part of Bulgaria's contribution to the EU budget, paid as of end-July 2015 from the central budget, amounts to BGN 540.3 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 August 2015.