01.11.2016

Based on preliminary data and estimates the balance of the Consolidated Fiscal Programme (CFP) on a cash basis as of end-October 2016 is expected to be positive, amounting to BGN 3,411.5 million (3.8% of forecast GDP). For comparison, a CFP surplus of BGN 63.9 million (0.1% of GDP) was reported in the same period of 2015, which means that, as a relative share of GDP, the budget stance has improved by 3.7 percentage points.

The factors for the improvement in the budget stance continue to be the higher revenues and the lower rate of utilization of capital expenditures. The improvement in terms of the current excess of revenues over expenditures under EU funds accounts on CFP balance is considerable, with the surplus under EU funds being 1.6% of the forecast GDP.

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

As of end-October 2016, CFP revenues and grants are expected to be BGN 28,281.6 million (85.7% of the annual estimate), registering a growth by BGN 1,747.1 million as against the same period of 2015. The growth as compared to the previous year is due to the higher tax and non-tax revenues which increased by BGN 2,078.7 million, while the receipts in terms of grants are lower. The performance of receipts from grants as compared to the annual plan stands at 96.6%. 

            The Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, as of October  2016 are expected to amount to BGN 24,870.1 million, which is 71.4% of the annual estimates. The expenditures for the same period of the previous year are to the amount of BGN 26,470.6 million.

The part of Bulgaria's contribution to the EU budget, as paid from the central budget as of October 2016, amounts to BGN 687.7 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 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 November 2016.