29.09.2012

Based on the monthly reports of the budgets of first-level spending units on a cash basis, the budget balance under the Consolidated Fiscal Programme (CFP) as of end-August 2012 is positive, amounting to BGN 107.6 million, and is formed by a surplus under the national budget of 616.9 million and a deficit under EU funds of BGN 509.3 million. Just for comparison, a negative balance of BGN 731.1 million was reported in the same period of 2011, or the budget stance as of end-August 2012 reports a nominal improvement by BGN 838.8 million compared to the same period of last year.

At end-August, CFP revenues and grants stand at BGN 17,806.3 million or 61.9% 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 1,564.5 million or 9.6%. This is mostly due to higher indirect tax, non-tax and grant revenue.

Tax proceeds, including revenues from social security contributions, total BGN 14,293.3 million as of end-August, which is 66.2 % of the annual plans. Revenues from direct taxes are BGN 2,680.7 million, or 69.9 % of those planned for the year. Indirect tax revenues amount to BGN 7,433.0 million, or 65.4 % of those planned in the 2012 State Budget Law, of which VAT revenues amounting to BGN 4,720.9 million, or 66.5 % of the plans, excise duty revenues amounting to BGN 2,614.6 million, or 63.3 % of the plans, customs duty revenues amounting to BGN 79.8 million, or 66.5 % of the plans, and insurance premium tax revenues amounting to BGN 17.6 million, or 73.5 % of the plans. Proceeds from other taxes, including property taxes and other taxes under the Corporate Income Tax Law, amount to BGN 563.1 million, or 68.3 % of the plans for the year. Revenues from social security and health insurance contributions as of 31 August 2012 are BGN 3,616.4 million, or 65.0 % of those planned for the year.

Non-tax revenues and grants amount to BGN 3,513.0 million, or 49.1 % 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 31 August 2012 amount to BGN 17,698.7 million, or 59.3 % 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 14,625.4 million (64.9 % of those planned for the year), capital expenditures (including net increment of state reserve) amount to BGN 1,993.9 million (37.5 % of those planned), while interest payments - to BGN 517.1 million (72.1 % of those planned in the 2012 budget).

The part of Bulgaria's contribution to the EU budget, as paid as of end-August 2012 from the central budget, amounts to BGN 562.2 million, which complies with Council Regulation 1150/2000.

Fiscal reserve as of 31 August 2012 amounts to BGN 6.9 billion.

Data on consolidated budget implementation as of 31 August 2012 are published in "Statistics" section on the website of the Ministry of Finance.