01.02.2016

The preliminary data and estimates expect for the Consolidated Fiscal Programme (CFP) balance on a cash basis as of January 2016 to be positive, amounting to BGN 952 million (1.1% of the projected GDP). For comparison, a CFP deficit of BGN 69.1 million (0.1% of GDP) was reported in January 2015, which means that, as a relative share of GDP, the budget stance has improved by 1.0 percentage point. It should be noted that the highest surplus of revenues over expenditures registered so far for this calendar month is forecast for January 2016. The improved budget stance is mainly due to a growth in tax and non-tax revenues and grants. The revenue growth of 26.0% forecast for the first month of 2016 goes considerably ahead of the one reported in January 2015 and 2014 of 19.3% and 15.8%, respectively. The budget balance is also influenced positively by the lower expenditures as compared to the same month of the previous year.

Key CFP parameters based on preliminary data and estimates:

In January 2016, CFP revenues and grants are expected to be BGN 3,114.3 million (9.4% of the annual estimate), registering a growth by BGN 642.7 million as against January 2015. The growth compared to the previous year is mainly due to the higher tax and non-tax revenues and grant proceeds (funds reimbursed by the European Commission) which rise by BGN 461.8 million and BGN 180.9 million, respectively.

The Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget for January 2016, amount to BGN 2,162.3 million, which accounts for 6.2% of the annual estimates. The expenditures for the same period of last year amount to BGN 2,402.5 million.

The part of Bulgaria's contribution to the EU budget, as paid from the central budget as of end-January 2016, amounts to BGN 21.9 million, which complies with the existing legislation in the area of EU own resources, Council Decision 2007/436/EC, Euratom on the system of the Communities' own resources and Council Regulation No 1150/2000, as amended by Regulation No 2018/2004, Regulation No 105/2009 and Regulation No 1377/2014, implementing Decision 2007/436/EC.

The statistics and the Information Bulletin on the Execution of the State Budget and the key Consolidated Fiscal Programme indicators based on the monthly data on cash execution of the budgets of first-level spending units will be published on the website of the Ministry of Finance at the end of February 2016.