26.06.2012

The budget balance for May 2012 is positive for a second successive month and amounts to BGN 284.4 million. Thus, the cumulated budget stance is already positive for the five months of 2012 and a minimum surplus to the amount of BGN 67.4 million is reported at end-May under the consolidated budget which is formed by a national budget surplus of BGN 334.5 million and a EU funds deficit of BGN 267.0 million.

Compared to the same period of last year, the CFP budget stance has improved by BGN 665.0 million (0.8 % of GDP), which is mostly on account of the national budget balance improved by BGN 802.5 million (1.0 % of GDP), while the EU funds deficit has grown by BGN 137.6 million (0.2 % GDP). This improvement in the budget stance against last year is entirely due to the better performance of the revenue side of the budget. There is a nominal revenue growth of 3.3 % related to the increased costs under EU programmes, while national budget expenditure contract by BGN 39.9 million (0.04 %).

The fiscal reserve amounts to BGN 5.0 billion as of 31 May 2012.