02.11.2023

Based on the preliminary data and estimates, the Consolidated Fiscal Programme (CFP) budget balance as of October 2023 is expected to be a deficit of around BGN 1.4 billion or 0.8% of the projected GDP, with a deficit of BGN 4.6 billion planned in the estimates to the Law on the 2023 State Budget of the Republic of Bulgaria. The budget balance is expected to reach the planned deficit of 2.5% of GDP in the remaining months by the end of the year.

Key CFP parameters based on preliminary data and estimates:

CFP revenues, grants and donations as of October 2023 amount to BGN 53.4 million, or 76.9% of the annual estimates. CFP tax revenues grow by BGN 4.4 billion in nominal terms compared to the same period of 2022 (11.6 per cent), while non-tax revenues and grant and donation proceeds (mostly EU programme and fund grants) are less by BGN 1.2 billion.

As of October 2023, the Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 54.8 billion (74.0% of the annual estimates), increasing by 9.1 per cent compared to the same period of the previous year. Per the individual expenditure indicators, the most significant increase is registered with social security expenditures, as well as in the personnel, capital and other expenditure components.

The part of the Republic of Bulgaria’s contribution to the EU budget paid from the central budget as of 31.10.2023 amounts to BGN 1.39 billion, which complies with the existing legislation in the area of EU own resources.

The statistical data 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 first-level spending units as of October 2023 will be published on the website of the Ministry of Finance at the end of November 2023.