17.05.2012

According to April 2012 preliminary data the general government budget position has considerably improved. On monthly basis revenues exceed expenditure by BGN 469 million, which is the biggest surplus per month since 2009. For the period January - April 2012 the budget deficit has fallen to BGN 217.2 million or in nominal terms the deficit for the first four months this year has fallen by around 60% compared to the same period last year.

The improvement of the budget stance is entirely due to the better performance of revenues, mainly tax revenues. In nominal terms VAT revenue growth is 22.1 % compared to last year, and excise duty growth - 6.9 %. Direct and property taxes performance under municipal budgets has also improved compared to the same period last year. Non-tax revenues and grants have risen by BGN 94.7 million as of April 2012.

The fiscal reserve amounts to BGN 4.9 billion as of 30 April 2012.