CONSOLIDATED FISCAL PROGRAMME PERFORMANCE DATA AS OF 30.09.2013
01.11.2013
The budget balance under the Consolidated Fiscal Programme (CFP) on a cash basis as of end of the 3rd quarter of 2013 is negative amounting to BGN 360.5 million and is formed by a deficit under the national budget of BGN 216.4 million and deficit under EU funds of BGN 144.1 million.
At end-September, CFP revenues and grants stand at BGN 21,307.9 million or 70.1% of those planned for the year. Compared to same period of 2012 CFP revenues and grants at end- September have grown in nominal terms by 6.6 % (BGN 1,324.0 million). This growth is formed by growth in grants (62.6% or BGN 718.3 million), in tax revenues (3.3% or BGN 529.5 million) and in non-tax revenues (2.7% or BGN 76.2 million).
As of end-September tax proceeds, including revenues from social security contributions, total BGN 16,523.3 million, being 72.3% of those planned for the year.
Revenues from direct taxes for the nine months of 2013 are BGN 2,836.7 million, or 70.0% of those planned for the year. Indirect tax revenues amount to BGN 8,596.5 million, or 72.1% of those planned for the year, of which VAT revenues - BGN 5,480.2 million, or 71.6%; excise duties - BGN 2,991.1 million, or 72.7%; custom duties - BGN 110.4 million, or 92.0%. For the nine months of 2013 revenues from tax on insurance premiums amount to BGN 14.7 million, or 52.5 % of the provided for in the 2013 State Budget Law. Proceeds from other taxes, including property taxes and other taxes under the Corporate Income Tax Law, amount to BGN 623.1 million, or 77.0% of the plans for the year. Revenues from social security and health insurance contributions as of 30.09.2013 are BGN 4,467.0 million, or 73.5% of those planned for the year.
Non-tax revenues amount to BGN 2,919.3 million, or 76.9% of those planned for 2013. Compared to same period of 2012 growth of 2.7 % is reported. Revenue performance of state and court charges, fines, sanctions and penalty interest, concessions and others is good.
The grants under the CFP as of 30.09.2013 amount to BGN 1,865.3 million (49.9% of the plan).
The expenditures under the consolidated budget, including the contribution of the Republic of Bulgaria to the EU budget, as of 30.09.2013 amount to BGN 21,668.4 million, or 67.8% of the planned for the year. Compared to same period of 2012 the expenditures under the consolidated budget are higher by BGN 1,932.6 million (9.8%). In structural terms mainly social and health insurance payments, capital expenditure, maintenance, interest payments and others account for that growth.
Non-interest current expenditures amount to BGN 17,857.2 million (74.0% of the planned for the year), capital expenditures (including net increment of state reserve) amount to BGN 2, 409.2 million (44.6 % of the planned for the year), while interest payments - to BGN 654.9 million (74.8% of the planned for 2013).
The part of Bulgaria's contribution to the EU budget, paid for the nine months of 2013 from the central budget, amounts to BGN 747.1 million, which complies with Council Regulation (EC, Euratom) No 1150/2000 of 22 May 2000 implementing Decision 94/728/EC, Euratom on the system of the Communities' own resources.
Fiscal reserve as of 30.09.2013 amounts to BGN 5.0 billion.
Data on consolidated budget implementation as of 30 September 2013 are published in category "Budget"/"Statistics" on the website of the Ministry of Finance. The statistical data are accompanied by an Information Bulletin on the Execution of the Consolidated Budget, which presents a short analysis of the performance of the key budget parameters on a consolidated level and by constituent budgets.