03.12.2012

The budget balance under the Consolidated Fiscal Programme (CFP) as of end-October 2012 is negative, amounting to BGN 74.2 million, and is formed by a surplus under the national budget of 477.0 million and a deficit under EU funds of BGN 551.2 million.

At end-October, CFP revenues and grants stand at BGN 22,127.3 million or 77.0% of those planned in the 2012 State Budget Law. Compared to the revenue reported in the same period of 2011, CFP proceeds report a nominal growth by BGN 1,608.6 million or 7.8%. This is mostly due to higher indirect tax, non-tax and grant revenue.

Tax proceeds, including revenues from social security contributions, total BGN 17,807.9 million as of end-October, which is 82.5% of the annual plans. Revenues from direct taxes are BGN 3,213.0 million, or 83.7% of those planned for the year. Indirect tax revenues amount to BGN 9,337.0 million, or 82.1% of those planned in the 2012 State Budget Law, of which VAT revenues amounting to BGN 5,823.0 million, or 82.0% of the plans, excise duty revenues amounting to BGN 3,392.6 million, or 82.1% of the plans, customs duty revenues amounting to BGN 99.7 million, or 83.1% of the plans, and insurance premium tax revenues amounting to BGN 21.7 million, or 90.3% of the plans. Proceeds from other taxes, including property taxes and other taxes under the Corporate Income Tax Law, amount to BGN 694.7 million, or 84.2% of the plans for the year. Revenues from social security and health insurance contributions as of 31 October 2012 are BGN 4,563.2 million, or 82.1% of those planned for the year.

Non-tax revenues and grants amount to BGN 4,319.4 million, or 60.4% of those planned for the year.

The expenditures under the consolidated budget, including the contribution of the Republic of Bulgaria to the EU budget, as of 31 October 2012 amount to BGN 22,201.6 million, or 74.4% of the planned for the year. In structural terms, compared to the same period of 2011, capital expenditures and social security expenditures are mostly higher. Non-interest current expenditures amount to BGN 18,339.1 million, capital expenditures (including net increment of state reserve) amount to BGN 2,634.2 million, while interest payments - to BGN 545.7 million.

The part of Bulgaria\'s contribution to the EU budget, as paid as of end-October 2012 from the central budget, amounts to BGN 682.6 million, which complies with Council Regulation 1150/2000.

Fiscal reserve as of 31 October 2012 amounts to BGN 6.6 billion.

Data on consolidated budget implementation as of 31 October 2012 are published in \"Statistics\" section on the website of the Ministry of Finance. The statistical data are accompanied by an Information Bulletin on the Execution of the Consolidated Budget, which presents a short analysis of the performance of the key budget parameters on a consolidated level and by constituent budgets.