31.05.2016

Based on preliminary data and estimates the balance of the Consolidated Fiscal Programme (CFP) on a cash basis as of end-May 2016 is expected to be positive, amounting to BGN 2,683 million (3.0 % of the projected GDP). For comparison, a CFP surplus of BGN 1,091.1 million (1.3% of GDP) was reported in the same period of 2015, which means that, as a relative share of GDP, the budget stance has improved by 1.7 percentage points.

On a monthly basis, the CFP balance for May is again positive which is due to the higher revenues and the cutting of expenditures in comparison to the same period of the previous year. It should be born in mind, however, that the current amount of the budget balance is also influenced by the shifting of part of the planned expenditures to future periods.

Key CFP parameters on the basis of preliminary data and estimates:

As of end-May 2016, CFP revenues and grants are expected to be BGN 14,832.4 million (44.9 % of the annual estimate), registering a growth by BGN 1,013.8 million as against end-May 2015. The growth as compared to the previous year is due to the higher tax and non-tax revenues which increased by BGN 1,246.9 million, while the receipts in terms of grants decreased by BGN 233.1 million. 

The Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, as of May 2016 are expected to amount to BGN 12,149.4 million, which accounts for 34.9 % of the annual estimates. The expenditures for the same period of the previous year are to the amount of BGN 12,727.5 million.

The part of Bulgaria's contribution to the EU budget, as paid from the central budget as of May 2016, amounts to BGN 356.6 million, which complies with the existing legislation in the area of EU own resources, Council Decision 2007/436/EC, Euratom on the system of the Communities' own resources and Council Regulation No 1150/2000, as amended by Regulation No 2018/2004, Regulation No 105/2009 and Regulation No 1377/2014, implementing Decision 2007/436/EC.

The statistics and the Information Bulletin on the Execution of the State Budget and the key Consolidated Fiscal Programme indicators based on the monthly data on cash execution of the budgets of first-level spending units will be published on the website of the Ministry of Finance at the end of June 2016.