04.12.2023

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 end-October 2023 is negative, amounting to BGN 1,440.2 million (0.8 % of forecast GDP) and is formed by a deficit under the national budget of BGN 1,271.3 million as well as under EU funds of BGN 168.9 million.

The revenues, grants and donations  under CFP as of October 2023 stand at BGN 53,439.9 million, or 76.9% of the plans under the 2023 State Budget Law. Proceeds have increased by BGN 3,199.8 million compared to those reported as of October 2022.

Tax proceeds (including revenues from social security and health insurance contributions) are to the amount of BGN 41,998.0 million, or 79.0 % of those planned for the year. Proceeds from taxes and social security and health insurance contributions have grown by BGN 4,276.7 million (11.3 %) compared to those reported for the same period of the previous year, forming 78.6 % of the overall CFP proceeds for the period. Revenues from direct taxes amount to BGN 8,269.6 million, or 71.1 % of the estimates for 2023. Proceeds from indirect taxes (mostly VAT) amount to BGN 18,561.3 million, or 79.3 % of those planned in the 2023 State Budget Law. Proceeds from other taxes (including other taxes under the Corporate Income Tax Law, property taxes, etc.) amount to BGN 2,424.9 million (including BGN 854.2 million targeted contributions to the Electricity System Security Fund), or 91.0 % of the annual estimates. Proceeds from social security and health insurance contributions amount to BGN 12,742.2 million, or 82.4 % of the estimates for 2023.

Non-tax revenues amount to BGN 9,484.4 million, or 85.0 % of the annual estimates, and are mostly formed by revenues from state, municipal and legal fees, revenues from rents, concession revenues, greenhouse gas emission allowance revenues, etc.

Proceeds from grants and donations amount to BGN 1,957.6 million.

The expenditures under the CFP, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 54,880.1 million as of October 2023, which is 74.1 % of the annual estimates. In nominal terms, expenditures have increased by BGN 4,644.8 million compared to the same period of 2022 (9.2 %). The most significant increase in the individual expenditure indicators is recorded in terms of social expenditures and health insurance expenditures, as well as in the part of staff and capital expenditures, etc. 

Non-interest expenditures amount to BGN 52,748.3 million, which is 74.5 % of the annual plan. Non-interest current expenditures amount to BGN 48,255.3 million. Capital expenditures (including net increment of state reserve) amount to BGN 4,442.3 million. The current and capital transfers to other countries amount to BGN 50.7 million. Interest payments amount to BGN 741.9 million or 90.1 % of those planned for 2023.

The part of Republic of Bulgaria's contribution to the EU budget, paid from the central budget as of 31 October 2023, amounts to BGN 1,389.9 million, which complies with the current legislation in the area of EU own resources.

Fiscal reserve as of 31.10.2023 is BGN 12.5 billion, including BGN 10.4 billion fiscal reserve deposits in BNB and banks and BGN 2.1 billion receivables under the EU Funds for certified expenditure, advance payments, etc.

The Consolidated Fiscal Programme performance data as of 31 October 2023 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.