01.04.2013

The budget balance under the Consolidated Fiscal Programme (CFP) as of end-February 2013 is negative, amounting to BGN 732.0 million, and is formed by a deficit under the national budget of BGN 485.5 million and under EU funds of BGN 246.5 million. Compared to the same period of previous year the deficit under CFP has risen in nominal terms by BGN 167.0 million due mainly to the higher expenditure in the first two months of 2013 pertaining mainly to higher health insurance payments in line with the Law on the 2013 NHIF Budget and higher interest expenditure. On the other hand there are one-off effects of the changed deadlines for declaration and payment of some taxes. These legislative changes shift part of the received so far revenues to subsequent periods of the year. The fiscal reserve as of 28.02.2013 amounts to BGN 3.9 billion.

Key performance data under the CFP as of February 2013.

At end-February, CFP revenues and grants stand at BGN 3,827.3 1 or 12.5% of those planned in the 2013 State Budget Law. As of end-February tax proceeds, including revenues from social security contributions, total BGN 3,247.9 million, being 84.9 % of all proceeds under the CFP. Revenues from direct taxes are BGN 402.9 million, or 9.8% of those planned for the year. Indirect tax revenues amount to BGN 1,903.2 million, or 15.4% of those planned in the 2013 State Budget Law, of which VAT revenues - BGN 1,331.1 million, or 16.9 %; excise duties - BGN 551.2 million, or 12.8 %; custom duties - BGN 20.4 million, or 17.0 %. Proceeds from other taxes, including property taxes and other taxes under the Corporate Income Tax Law, amount to BGN 74.6 million, or 8.6 % of the plans for the year. Revenues from social security and health insurance contributions for February are BGN 867.2 million, or 14.3% of those planned for the year.

Non-tax revenues and grants amount to BGN 579.4 million, or 8.1% 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 28.02.2013 amount to BGN 4,559.3 million, or 14.4% of the planned for the year. Compared to February 2012 the expenditures under the consolidated budget are higher by BGN 313.1 (7.4 %). Non-interest current expenditures amount to BGN 3,685.4 million (15.3 % of the planned for the year), capital expenditures (including net increment of state reserve) amount to BGN 303.2 million (5.6 % of the planned for the year), while interest payments - to BGN 313.1 million (35.8 % of the planned for 2013).

The part of Bulgaria's contribution to the EU budget, as paid for the first two months of 2013 from the central budget, amounts to BGN 257.6 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.

Data on consolidated budget implementation as of 28 February 2013 are published in "Budget"/"Statistics" section on the website of the Ministry of Finance.