31.10.2012

The budget balance under the Consolidated Fiscal Programme (CFP) as of end-September 2012 is positive, amounting to BGN 248.1 million, and is formed by a surplus under the national budget of 735.2 million and a deficit under EU funds of BGN 487.0 million. A surplus of BGN 140.5 million on a monthly basis is reported in September.

At end-September, CFP revenues and grants stand at BGN 19,983.9 million or 69.5% 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 1,630.2 million or 8.9%. This is mostly due to higher indirect tax, non-tax and grant revenue.

Tax proceeds, including revenues from social security contributions, total BGN 15,993.8 million as of end-September, which is 74.1 % of the annual plans. Revenues from direct taxes are BGN 2,933.3 million, or 76.4 % of those planned for the year. Indirect tax revenues amount to BGN 8,371.8 million, or 73.6 % of those planned in the 2012 State Budget Law, of which VAT revenues amounting to BGN 5,251.4 million, or 74.0 % of the plans, excise duty revenues amounting to BGN 3,011.6 million, or 72.9 % of the plans, customs duty revenues amounting to BGN 89.4 million, or 74.5 % of the plans, and insurance premium tax revenues amounting to BGN 19.5 million, or 81.1 % of the plans. Proceeds from other taxes, including property taxes and other taxes under the Corporate Income Tax Law, amount to BGN 613.5 million, or 74.4 % of the plans for the year. Revenues from social security and health insurance contributions as of 30 September 2012 are BGN 4,075.3 million, or 73.3 % of those planned for the year.

Non-tax revenues and grants amount to BGN 3,990.1 million, or 55.8 % 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 30 September 2012 amount to BGN 19,735.8 million, or 66.1 % 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 16,455.9 million (73.0 % of those planned for the year), capital expenditures (including net increment of state reserve) amount to BGN 2,132.3 million (40.1 % of those planned), while interest payments - to BGN 518.7 million (72.3 % of those planned in the 2012 budget).

The part of Bulgaria's contribution to the EU budget, as paid as of end-September 2012 from the central budget, amounts to BGN 628.8 million, which complies with Council Regulation 1150/2000.

Fiscal reserve as of 30 September 2012 amounts to BGN 7.2 billion.

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