30.12.2015

Based on preliminary data and assessments, CFP revenues and grants in 2015 are expected to amount to BGN 32,263.4 million, registering a growth of 9.7% (BGN 2,854.3 million) in comparison to 2014. As a share of GDP, Consolidated Fiscal Programme revenues grow from 35.2% in 2014 to 37.5% in 2015, which is an increase by 2.3 percentage points. 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 2,096.6 million and BGN 757.7 million, respectively.

As to the revenue side of the national budget, tax proceeds rise most considerably (by almost BGN 1.9 billion), with some growth registered for all major taxes and social security contributions. Indirect taxes grow by almost BGN 1 billion in comparison to the same period of the previous year, with just excise duty revenues increasing by around BGN 0.5 billion, or 12 per cent. A sizeable growth is also registered for revenues from social security and health insurance contributions, corporate taxes and other taxes.

Based on operational data and assessments, the Consolidated Fiscal Programme expenditures (including the contribution of the Republic of Bulgaria to the EU budget) amount to BGN 34,550.4 million in 2015, which is close to the annual estimates. The expenditures for the same period of last year amount to BGN 32,482.0 million.

The part of Bulgaria's contribution to the EU budget, as paid as of end-2015 from the central budget, amounts to BGN 946.4 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.

Based on preliminary data and assessments, the Consolidated Fiscal Programme deficit on a cash basis for 2015 is expected to amount to around BGN 2,287 million, or 2.66% of the projected GDP. For comparison, a CFP deficit of BGN 3,072.9 million (3.7% of GDP), was reported in the same period of the previous year, which means that, as a relative share of GDP, the budget stance has improved by 1 percentage point.

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