01.07.2024

Based on data from the monthly reports on the cash performance of the budgets of first-level spending units, the balance of the Consolidated Fiscal Programme (CFP) on a cash basis as of May 2024 is positive, amounting to BGN 146.9 million (0.1 % of the forecast GDP). 

The CFP revenues, grants and donations as of May 2024 are to the amount of BGN 28,256.3 million, or 37.5 % of the annual estimates. Proceeds have increased by BGN 3,333.9 million (13.4 %) compared to those reported as of May 2023. Compared to the same period of the previous year, tax revenues rise by BGN 2,065.0 million in nominal terms, or 10.4%, non-tax revenues – by BGN 414.2 million, or 10.0 %, and proceeds from grants and donations (mainly grants under EU Programmes and Funds) increase by BGN 854.6 million.

Tax proceeds (including revenues from social security and health insurance contributions) are to the amount of BGN 21,860.5 million, or 37.7 % of those planned for the year, forming 77.4 % of total CFP proceeds for the period.

Non-tax revenues amount to BGN 4,561.7 million, or 44.5 % of the annual estimates.

Proceeds from grants and donations amount to BGN 1,834.1 million.

The expenditures under the CFP, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 28,109.4 million as of May 2024, which is 34.5 % 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-May 2024 are BGN 29,309.4 million compared to BGN 26,100.9 million for the first five 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 Republic of Bulgaria's contribution to the EU budget, paid from the central budget as of 31 May 2024, amounts to BGN 575.2 million, which complies with the current legislation in the area of EU own resources.

Fiscal reserve as of 31.05.2024 is BGN 11,624.1 million, including BGN 9,956.5 million fiscal reserve deposits in BNB and banks and BGN 1,667.6 million receivables under the EU Funds for certified expenditure, advance payments, etc.

The Consolidated Fiscal Programme performance data as of 31 May 2024 are published on the website of the Ministry of Finance in Statistics section. The statistical data are accompanied by an Information Bulletin on the Execution of the State Budget and the main indicators of the consolidated fiscal programme, which presents 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 57/21.03.2024 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 April as per CMD No 107/23.04.2024 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 May as per CMD No 182/23.05.2024 can be found here.