02.04.2025

Based on preliminary data and estimates the budget balance of the Consolidated Fiscal Programme (CFP) as of end-March 2025 is expected to be deficit, amounting to BGN 1.9 billion (0.9 percent of the forecast GDP). The arguments behind the bill on the state budget for the current year include an indicative amount of the CFP deficit for the year of BGN 6.4 billion (3 percent of the forecast GDP in the macro framework of the budget). With the exception of January, which witnessed significant one-off revenues, in February and March expenditures exceed revenues, mainly due to the higher social security and health insurance payments, the increase in the staff costs, the capital expenditures, etc.

Key parameters of the Consolidated Fiscal Programme (CFP) as of the end of March based on preliminary data and estimates

Based on preliminary data and estimates, CFP revenues, grants and donations as of March 2025 are expected to be BGN 16.8 billion, increasing by BGN 1.1 billion (6.8 per cent) compared to those reported for the first quarter of 2024. This growth is mainly due to tax revenues, which increase by 14.2 % (BGN 1.7 billion in nominal terms) compared to March 2024. Non-tax revenues are close to the ones reported for the same period of 2024, while proceeds in the part of grants and donations are by BGN 0.7 billion less.

The CFP expenditures, including the contribution of the Republic of Bulgaria to the EU budget, as of March 2025 amount to BGN 18.7 billion. For comparison, CFP expenditures for the first quarter of 2024 amount to BGN 15.4 billion and it should be taken into account that in February 2024 there was a reported reimbursement transaction of BGN 1.2 billion from the external funds account of the Ministry of Regional Development and Public Works back to the Ministry’s budget. Eliminating this transaction, for comparability with the 2024 data, expenditures as of the end of March 2025 increase by BGN 2.1 billion (13.1 %) mainly in the part of social payments, including the pension expenditures, as well as on staff costs, subsidies, capital expenditures, etc.

The part of Republic of Bulgaria's contribution to the EU budget, paid from the central budget as of 31 March 2025, amounts to BGN 0.5 billion, which complies with the current 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 indicators of the Consolidated Fiscal Programme based on data from the monthly reports on the cash performance of the budgets of the first-level spending units as of March 2025 will be published on the website of the Ministry of Finance at the end of April 2025.