05.01.2015

Ministry of Finance preliminary data show that the deficit on cash basis under the Consolidated Fiscal Programme for 2014 is expected to amount to around BGN 3 billion (3.7% of forecasted GDP). This corresponds to the updated plans for the year under the adopted Law amending the 2014 State Budget of Republic of Bulgaria Law, which means successful closure of the budget year.

December was exceptionally dynamic for the Ministry of Finance. Concurrently with the intensive work on the budget implementation, expenditure reports and requests for interim payments under the seven Operational Programmes to the amount of almost BGN 900 million, to be reimbursed to Bulgaria, have been sent to the European Commission. In addition, the resource required for the Bank Deposit Insurance Fund was provided within the time schedule and under the procedures foreseen, thus not allowing any tension and ensuring access of the depositors to their funds. Despite the extremely tight time limits the 2015 State Budget of Republic of Bulgaria Law, that provides for gradual fiscal consolidation and narrowing of the budget deficit, has been tabled and adopted by the 43^rd National Assembly. Those were only part of the serious challenges that the Ministry of Finance addressed in the last month of the year.

The statistical data and the Information Bulletin on the Execution of the Consolidated Budget as of 31.12.2014 based on the first level spending units' monthly reports for the cash implementation of their budgets will be published on the Ministry of Finance website at the end of January 2015.