01.08.2024

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 June 2024 is negative, amounting to BGN 636.0 million (0.3% of the projected GDP). 

CFP revenues, grants and donations as of June 2024 amount to BGN 34,493.6 million, or 45.8% of the annual estimates. Proceeds grow by BGN 3,088.6 million, or 9.8%, compared to those reported in June 2023. Compared to the same period of 2023, tax revenues grow by BGN 2,623.5 million (10.7%) in nominal terms, non-tax revenues are higher by BGN 331.0 million (5.9%), while proceeds in the part of grants and donations (mainly grants under EU programmes and funds) increase by BGN 796.1 million.

Tax proceeds, including revenues from social security contributions, amount to BGN 27,204.1 million, which accounts for 46.9% of the estimates for the year, forming 78.9% of the overall CFP proceeds for the period.

Non-tax revenues amount to BGN 5,290.0 million, which accounts for 51.6% of the annual estimates.

Grant and donation proceeds amount to BGN 1,999.5 million.

CFP expenditures, including the contribution of the Republic of Bulgaria to the EU budget for June 2024, amount to BGN 35,129.6 million, which accounts for 43.1% 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 and other projects. After eliminating this transaction and in order to have comparability with the previous year, expenditures as of end-June 2024 are BGN 36,329.6 million compared to BGN 31,230.6 million for the first six 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 30.06.2024 amounts to BGN 713.5 million, which complies with the existing legislation in the area of EU own resources.

The fiscal reserve as of 30.06.2024 is BGN 11,303.1 million, including BGN 9,143.3 million of fiscal reserve deposits in the BNB and in banks and BGN 2,159.8 million of receivables under the EU Funds for certified expenditures, advance payments, etc.

The Consolidated Fiscal Programme implementation data as of 30 June 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 57/21.03.2024 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.

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 June as per CMD No 220/19.06.2024 can be found here.