01.06.2012

Based on the monthly reports on the cash budget implementation of first level spending units the budget balance under the Consolidated Fiscal Programme (CFP) as of April is positive, amounting to BGN 473.8 million. This is the highest surplus per calendar month since January 2009. The CFP negative balance on an accrual basis since the beginning of the year amounts to BGN 217.1 million and is formed by a surplus under the national budget of BGN 164.1 million and a deficit under EU funds of BGN 381.2 million. For comparison the deficit in period January - April 2011 was BGN 552.1 million, or the budget position as of April 2012 shows improvement by BGN 334.9 million compared to the same period last year.

The CFP revenues and grants as of the end of April stand at BGN 8,537.1 million, or 29.7 % of those planned in the 2012 State Budget Law (SBL). Compared to the same period of 2011, proceeds report a nominal growth by 7.4 % (BGN 587.4 million), which is mostly due to higher VAT and excise duties revenue.

Tax proceeds, including revenues from social security contributions, total BGN 6,990.1 million as of the end of April, or 32.4 % of the annual plan. Direct tax revenues amount to BGN 1,508.3 million, or 39.3 % of the annual plan. Indirect tax revenues amount to BGN 3,401.9 million, or 29.9 % of the annual plan, of which VAT revenues - BNG 2,194.8 million, or 30.9 % of the plan, excise duty revenues - BNG 1,161.6 million, or 28.1 %, customs duty revenues - BGN 36.3 million, or 30.2 %. Other taxes revenues (other taxes under CITA, property taxes, etc.) amount to BGN 327.1 million, or 39.7 % of the annual plan. Revenues from social security and health insurance contributions as of 30.04.2012 amount to BGN 1,752.9 million, or 31.5 % of the annual plan.

Non-tax revenues and grants amount to BGN 1,547.0 million, or 21.6 % of the annual plan. In April the BNB paid its contribution for 2011 amounting to BGN 180.5 million.

The expenditure under the consolidated budget (including the contribution of Republic of Bulgaria to the EU general budget) as of 30 April 2012 amount to BGN 8,754.2 million, or 29.3 % of the annual plan. In structural terms compared to the same 2011 period an increase mainly in social security and health insurance payments (including scholarships) and capital expenditure is observed. Non-interest current expenditures amount to BGN 7,369.8 million (32.7 % of the annual plan), capital expenditures (including net increment of state reserve) amount to BGN 703.3 million (13.2 % of those planned in the 2012 SBL) and interest payments - BGN 309.4 million (43.1 % of those planned for 2012).

The part of Bulgaria's contribution to the EU general budget paid as of 30.04.2012 from the central budget, amounts to BGN 371.7 million, which is in compliance with the requirements of Council Regulation 1150/2000.

The fiscal reserve as of 30.04.2012 amounts to BGN 4.9 billion.

Data on consolidated budget implementation as of 30 April 2012 are published in „Statistics" section on the website of the Ministry of Finance.