MoF Expects Excess of Revenues over Expenditures of BGN 570 million under Consolidated Fiscal Programme as of End-May 2022
31.05.2022
According to the preliminary data and estimates the Consolidated Fiscal Programme (CFP) balance on a cash basis for 2022 is expected to be positive, amounting to BGN 570 million, or 0.4% of the projected GDP. For comparison, a deficit of BGN 140.6 million was reported for the same period of 2021.
Key CFP parameters based on preliminary data and estimates:
As of May 2022, CFP revenues, grants and donations are expected to be BGN 22,755 million (39.7% of the annual estimates), and increase by BGN 2,280 million (11.1%) compared to those reported in the same period of 2021. Tax and non-tax CFP revenues grow by BGN 2,259 million in nominal terms compared to May 2021, while grant and donation proceeds (mostly EU programme and fund grants) are close to those reported for the same period of the previous year.
As of May 2022, the Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 22,185 million (35.1% of the annual estimates). For comparison, the CFP expenditures as of May 2021 amount to BGN 20,616.2 million.
The part of Bulgaria’s contribution to the EU budget, as paid from the central budget as of 31.05.2022, amounts to BGN 672 million, which complies with the existing legislation in the area of EU own resources.
The statistical data and the Information Bulletin on the Execution of the State Budget and the key Consolidated Fiscal Programme indicators based on the monthly data on cash execution of first-level spending units’ budgets as of May 2022 will be published on the website of the Ministry of Finance at the end of June 2022.