site.bta Finance Ministry Reports Lv 250 Mln Surplus in Q1

Finance Ministry Reports Lv 250 Mln  Surplus in Q1


Sofia, April 1 (BTA) - Preliminary data and estimates of the
Consolidated Fiscal Programme (CFP) balance on a cash basis show
that as of March 2015 it is expected to be positive, amounting
to around 250 million leva (0.3 per cent of the projected GDP),
the Ministry of Finance said Wednesday. It should be noted that
for the first time since 2009 a CFP surplus is expected for the
first three months of the year. For comparison, the balance as
of March 2014 was a deficit of 874.7 million leva, or -1.1 per
cent of GDP, which means that compared to the first quarter of
the previous year the budget stance improves by 1.4 per cent of
GDP. The higher revenues continue being the key factor behind
the improved projected budget balance, while expenditures remain
close to those reported over the same period of the previous
year. Just for the last two days of March the revenues
administered by the revenue agencies amount to around 340
million leva.

As of March 2015, CFP revenues and grants are expected to be
around 7,780 million leva, or 25.6 per cent of the annual plans,
which accounts for a nominal growth of 18.3 per cent, or
1,204.2 million leva, compared to Q1 of 2014. In addition to tax
proceeds, good revenue performance this month is also due to
the expenditures declared for refunding by the European
Commission under the operational programmes and under the Rural
Development Programme, with 530 million leva received in the
form of grants, which is by around 260 million leva more than
the proceeds for Q1 of 2014.

Based on operational data and estimates, CFP expenditures,
including the contribution of the Republic of Bulgaria to the EU
budget, as of 31/03/2015 amount to around 7,530 million leva,
which is 22.9 per cent of the annual plans. Expenditures, in
nominal terms, remain close to those reported in the same month
of the previous year.

The part of Bulgaria's contribution to the EU budget, as paid as
of 31/03/2015 from the central budget, amounts to 301.9 million
leva, which complies with Council Regulation 1150/2000 of 22
May 2000 implementing Decision 94/728/EC, Euratom on the system
of the Communities' own resources.

The statistical data and the Information Bulletin on the
Execution of the Consolidated Budget as of March 31, 2015 based
on the monthly data on cash execution of first-level spending
units will be published on the website of the Ministry of
Finance at the end of April 2015.