site.btaFinance Ministry Expects LV 627 Mln Budget Surplus at End-September

Finance Ministry Expects LV 627 Mln Budget Surplus at End-September

Sofia, October 1 (BTA) - The Finance Ministry expects a budget
surplus of  627 million leva at the end of September. The
surplus is based on preliminary data and estimates and makes up
0.7 per cent of the forecasted GDP.

The higher revenues and grants continue to be the main factors
for the improved budget position, the Ministry said.

The consolidated fiscal programme had a deficit of 1,478.9
million leva (1.8 per cent of GDP) this time last year, which
means that as a relative share of GDP the budget position has
improved by 2.5 percentage points.

Budget revenues and grants as of the end of September are
expected at 24,141.4 million leva (79.5 per cent of the annual
estimate), growing by 12 per cent (2,585.0 million leva) from
the same period of 2014. The growth is mainly due to the higher
tax and non-tax revenues as well as to the higher receipts from
EU grants, which increased by 1,644.7 million leva and 940.3
million leva, respectively.

On the basis of operational data and assessments the
expenditures under the Consolidated Fiscal Programme (including
the contribution of the Republic of Bulgaria to the EU budget)
as of September 2015 amount to BGN 23,514.4 million, which is
71.6 per cent of the annual plans. The expenditures for the same
 period of the previous year are to the amount of BGN 23,035.3
million.

The Bulgarian contribution to the EU budget paid as of
end-September 2015 from the central budget amounts to 624.5
million leva.