MoF expects an excess of revenues over expenditures under the Consolidated Fiscal Programme of BGN 137 million at end-February 2021
01.03.2021
Based on preliminary data and estimates the budget balance of the Consolidated Fiscal Programme (CFP) as of February 2021 is expected to be positive, amounting to BGN 137 million (0.1 % of the forecast GDP). For comparison, the reported excess of revenues over expenditures for the first two months of 2020 amounted to BGN 1,480.2 million.
Key CFP parameters on the basis of preliminary data and estimates:
In February 2021, CFP revenues, grants and donations are expected to be BGN 7,361 million (15.5 % of the annual estimates). As compared to the same period of the previous year, they have decreased by BGN 103 million, with the amount of tax and non-tax revenues being close in nominal terms to last year levels, while proceeds from grants and donations (mostly EU programme and fund grants) have decreased by BGN 114 million.
The Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, for February 2021 amount to BGN 7,224 million, which accounts for 13.8 % of the annual estimates. For comparison, the expenditures under the CFP for the same period of 2020 amounted to BGN 5,983.6 million. The growth in expenditures as compared to the same period of 2020 is mainly related to the social and economic measures taken to overcome the negative implications from the COVID-19 pandemic, including the payment of an allowance of BGN 50 to the pensions of all pensioners for January and February, the higher health insurance payments, the expenditures for subsidies under the EU fund accounts as well as a a baseline effect on pension expenditures from the pension increase in July 2020, the higher amounts of the minimum and maximum pensions as from the beginning of the year, etc.
The part of Republic of Bulgaria's contribution to the EU budget, paid from the central budget as of February 2021, amounts to BGN 393.1 million, 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 February 2021 will be published on the website of the Ministry of Finance at the end of March 2021.