site.btaConsolidated Fiscal Programme as at February 2018 with Surplus of BGN 752.3 Million

Sofia, April 1 (BTA) - Based on the monthly data of first-level spending units, the Consolidated Fiscal Programme (CFP) balance on a cash basis as at February 2018 was positive, amounting to 752.3 million leva or 0.7 per cent of the projected GDP, and was formed by a national budget surplus of 980.1 million leva and by a deficit of EU funds of 228.7 million leva, the Finance Ministry reported. In comparison, the CFP surplus for February 2017 was 831.8 million leva (0.8 per cent of the projected GDP).

The CFP revenues and grants as at February 2018 stood at 6,212.3 million leva, or 16.3 per cent of the annual estimates. Compared to the previous year, tax and non-tax revenues rose by 729 million leva or 13.4 per cent, with grant proceeds being lower.

Tax proceeds, including revenues from social security contributions, totalled 5,381.1 million leva, which accounts for 17.3 per cent of the revenues planned for the year. Compared to the like figure for 2017, tax proceeds increased in nominal terms by 659.9 million leva or 14 per cent.

Direct tax revenues amounted to 714 million leva or 12.4 per cent of the estimates planned for the year, growing by 162 million leva or 29.5 per cent compared to the same period of 2017.

Indirect tax revenues amounted to 3,064.1 million leva, which accounts for 20.2 per cent of the annual estimates. Compared to the February 2017 data, proceeds in this group grew by 278.4 million leva or 10 per cent. VAT proceeds amounted to 2,073.8 million leva or 21.2 per cent of those planned. Compared to the previous year, VAT revenues increased by 204.7 million leva or 10.9 per cent. The amount of non-refunded VAT as at February 2018 was 65.8 million leva. The excise duty revenues amounted to 938.5 million leva or 18.2 per cent of the annual estimates. Customs duty proceeds totalled 42.9 million leva or 22.6 per cent of the estimates for the year.