01.12.2016

The preliminary data and estimates expect for the Consolidated Fiscal Programme (CFP) balance on a cash basis as of end-November 2016 to be positive, amounting to BGN 3,466.6 million (3.9% of the projected GDP). For comparison, a CFP deficit of BGN 406.4 million (0.5% of GDP) was reported in the same period of 2015, which means that, as a relative share of GDP, the budget stance has improved by 4.4 percentage points.

The factors behind the improvement in the budget stance continue to be the higher revenues and the lower absorption of capital expenditures. The improvement in the current CFP balance resulting from the excess of revenues over EU fund expenditures is considerable, with the EU funds surplus being 1.8% of projected GDP.

Key CFP parameters based on preliminary data and estimates:

As of end-November 2016, CFP revenues and grants are expected to be BGN 31,135.2 million (94.3% of the annual estimates), registering a growth by BGN 2,059.0 million as against the same period of 2015. The growth in comparison to the previous year is due to the higher tax and non-tax revenues which have grown by BGN 2,382.8 million, whereas European Union grants are lower. Execution of the annual estimates in the EU proceeds part is 110.8%. 

The Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, are expected to amount to BGN 27,668.6 million, as of November 2016, which accounts for 79.5% of the annual estimates. The expenditures for the same period of last year amount to BGN 29,482.5 million.

The part of Bulgaria's contribution to the EU budget, as paid from the central budget as of November 2016, amounts to BGN 762.5 million, which complies with the existing legislation in the area of EU own resources, Council Decision 2007/436/EC, Euratom on the system of the Communities' own resources and Council Regulation No 1150/2000, as amended by Regulation No 2018/2004, Regulation No 105/2009 and Regulation No 1377/2014, implementing Decision 2007/436/EC.

The statistics and the Information Bulletin on the Execution of the State Budget and of the key Consolidated Fiscal Programme indicators based on the monthly data on cash execution of the budgets of first-level spending units will be published on the website of the Ministry of Finance at the end of December 2016.