31.05.2024

Based on the monthly data on cash execution of first-level spending units’ budgets, the Consolidated Fiscal Programme (CFP) balance on a cash basis as of April 2024 is positive, amounting to BGN 596.6 million (0.3% of the projected GDP).

At the end of April, the state budget received one-off revenues of BGN 660 million from the contribution from the Bulgarian National Bank, which is formed by the excess of revenues over expenditures for 2023. On the other hand, at the end of April, an expense of more than BGN 300 million was shifted from May due to the holidays at the beginning of May and the technological time needed to make the pension payments in May. The aim was for pensioners to receive their pensions without any delay. Furthermore, the Easter supplement to pensioners’ pensions approved by the National Assembly for pensions below the poverty line, totalling approximately BGN 54 million, was also paid at the end of April.

CFP revenues, grants and donations as of April 2024 amount to BGN 22,769.8 million, or 30.2% of the annual estimates. Proceeds grow by BGN 2,927.7 million, or 14.8%, compared to those reported in April 2023. Compared to the same period of 2023, tax revenues grow by BGN 1,279.6 million (8.0%) in nominal terms, non-tax revenues are higher by BGN 644.9 million (20.0%), while proceeds in the part of grants and donations (mainly grants under EU programmes and funds) increase by BGN 1,003.1 million.

Tax proceeds, including revenues from social security contributions, amount to BGN 17,292.0 million, which accounts for 29.8% of the estimates for the year, forming 75.9% of the overall CFP proceeds for the period.

Non-tax revenues amount to BGN 3,863.8 million, which accounts for 37.7% of the annual estimates.

Grant and donation proceeds amount to BGN 1,614.0 million.

CFP expenditures, including the contribution of the Republic of Bulgaria to the EU budget for April 2024, amount to BGN 22,173.2 million, which accounts for 27.2% of the annual estimates. In February 2024, in execution of Article 71(1) of Council of Ministers’ Decree No 13 of 2024, a total amount of BGN 1,200.0 million was reimbursed to the budget of the Ministry of Regional Development and Public Works (MRDPW) from the external funds account. In the course of implementation of the 2024 budget these funds will be disbursed by a Council of Ministers’ act on the basis of agreements signed with the MRDPW in the form of transfers to municipalities to fund the Municipal Projects Investment Programme under the procedure of Article 107 of the Law on the 2024 State Budget of the Republic of Bulgaria. After eliminating this transaction, in order to have comparability with the previous year, expenditures as of end-April 2024 are BGN 23,373.2 million compared to BGN 20,938.8 million for the first four months of 2023. As regards the individual expenditure items, there is an increase in social expenditures due to the higher pensions paid following the increase effective as from July 2023, as well as in staff costs following the increase in teaching staff salaries and in some other administrations with the Law on the 2023 State Budget of the Republic of Bulgaria and with the Law on the 2024 State Budget of the Republic of Bulgaria, etc. 

The part of Bulgaria’s contribution to the EU budget paid from the central budget as of 30.04.2024 amounts to BGN 457.4 million, which complies with the existing legislation in the area of EU own resources.

The fiscal reserve as of 30.04.2024 is BGN 11,806.4 million, including BGN 10,126.3 million of fiscal reserve deposits in the BNB and in banks and BGN 1,680.1 million of receivables under the EU Funds for certified expenditures, advance payments, etc.

The Consolidated Fiscal Programme implementation data as of 30 April 2024 are published in the Statistics section on the website of the Ministry of Finance. The statistics is accompanied by an Information Bulletin on the Execution of the State Budget and the Main Indicators of the Consolidated Fiscal Programme, which represents a short analysis of the performance of the key budget parameters on a consolidated level and by constituent budgets.

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Detailed information about the capital expenditures approved by the Council of Ministers under Annex No. 2 to the Law on the 2024 State Budget of the Republic of Bulgaria for January as per CMD No 14/29.01.2024 can be found here.

Detailed information about the capital expenditures approved by the Council of Ministers under Annex No. 2 to the Law on the 2024 State Budget of the Republic of Bulgaria for February as per CMD No 32/26.02.2024 can be found here.

Detailed information about the capital expenditures approved by the Council of Ministers under Annex No. 2 to the Law on the 2024 State Budget of the Republic of Bulgaria for March as per CMD No 57/21.03.2024can be found here.

Detailed information about the capital expenditures approved by the Council of Ministers under Annex No. 2 to the Law on the 2024 State Budget of the Republic of Bulgaria for April as per CMD No 107/23.04.2024 can be found here.