Consolidated Fiscal Programme performance data as of 31.01.2022 are published
01.03.2022
Based on data from the monthly reports on the cash performance of the budgets of first-level spending units, the budget balance of the Consolidated Fiscal Programme (CFP) on a cash basis as of January 2022 is positive, amounting to BGN 937.0 million (0.7 % of forecast GDP), and is formed by an excess of revenues over expenditures under the national budget of BGN 973.8 million and a deficit under EU funds of BGN 36.8 million.
For January 2022, CFP revenues, grants and donations are to the amount of BGN 4,321.1 million. As compared to January 2021, proceeds have increased by BGN 608.6 million (16.4 %). Tax and non-tax revenues under the Consolidated Fiscal Programme have risen by BGN 603.3 million in nominal terms, while proceeds from grants and donations (mostly EU programme and fund grants) are close to the amount reported for the same period of the previous year (they have increased by BGN 5.3 million).
Tax proceeds under CFP, including revenues from social security and health insurance contributions, total BGN 3,553.3 million. Proceeds from taxes and social security and health insurance contributions have grown by BGN 421.8 million (13.5 %) compared to those reported for the same period of the previous year, forming 82.2 % of the overall CFP proceeds for the period.
Revenues from direct taxes amount to BGN 408.5 million, being close to the ones for January 2021. Indirect tax revenues amount to BGN 2,081.2 million (growth of BGN 308.4 million, or 17.4 % compared to those reported for January 2021), with VAT revenues amounting to BGN 1,505.4 million (growth of 13.3 % compared to those reported for January 2021), excise duty revenues amount to BGN 529.1 million (growth of 26.4 % compared to the same period of the previous year), and customs duty revenues amount to BGN 36.9 million (growth of 97.6 % compared to those reported for January 2021). Proceeds from other taxes, including property taxes and other taxes under the Corporate Income Tax Law, amount to BGN 80.5 million, or the growth is to the amount of BGN 15.0 million (23.0 %) compared to those reported for January 2021. Revenues from social security and health insurance contributions are BGN 983.0 million, registering growth of BGN 99.8 million (11.3%) compared to the same period of 2021.
Non-tax revenues amount to BGN 652.4 million (growth of BGN 181.5 million, or 38.5 % compared to the same period of 2021) and are mostly formed by revenues from state, municipal and legal fees, revenues from rents, concession revenues, greenhouse gas emission allowance revenues, etc.
Proceeds from grants and donations amount to BGN 115.4 million.
The expenditures under CFP, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 3,384.1 million for January 2022. For comparison, CFP expenditures for January 2021 amounted to BGN 3,302.9 million.
Non-interest expenditures amount to BGN 3,218.9 million, being close to the ones reported for January 2021. Non-interest current expenditures amount to BGN 3,107.0 million. Capital expenditures (including net increment of state reserve) amount to BGN 110.4 million. The current and capital transfers to other countries amount to BGN 1.5 million. Interest payments amount to BGN 32.1 million, (a drop by BGN 8,9 million, or by 21,7 % compared to January 2021).
The part of Republic of Bulgaria's contribution to the EU budget, paid from the central budget as of 31.01.2022, amounts to BGN 133.1 million, which complies with the current legislation in the area of EU own resources.
Fiscal reserve as of 31.01.2022 is BGN 11.06 billion, including BGN 10.02 billion fiscal reserve deposits in BNB and banks and BGN 1.04 billion receivables under the EU Funds for certified expenditure, advance payments, etc.
The Consolidated Fiscal Programme performance data as of 31 January 2022 are published on the website of the Ministry of Finance in Statistics section. The statistical data are accompanied by an Information Bulletin on the Execution of the State Budget and the main indicators of the consolidated fiscal programme, which presents a short analysis of the performance of the key budget parameters on a consolidated level and by constituent budgets.