site.btaConsolidated Fiscal Programme Shows BGN 0.4 Bln Budget Surplus in January-March 2024

In the first quarter of 2024, Bulgaria's consolidated fiscal programme (CFP) remained in surplus, according to newly released government finance statistics Wednesday. As of March, the surplus stood at BGN 0.4 billion (0.2% of GDP projections).

Revenues, donations and grants stood at BGN 15.66 at the end of March, which was 20.9% of the annual target. Year-on-year, they grew by BGN 1.07 billion. Compared with this time last year, tax revenues increased in nominal terms by BGN 0.21 billion, while non-tax revenues decreased by BGN 0.12 billion due to a decline in the sales of greenhouse gas emissions.

Tax revenues (including social security contributions) totalled 12.03 billion (20.8% of annual estimates) and accounted for 76.3% of total revenues.

Non-tax revenues totalled BGN 2.32 billion, or 22.5% of annual projections.

Revenues from grants and donations stood at BGN 1.41 billion.

Total expenditures, including Bulgaria's contribution to the EU budget, amounted to BGN 15.35 million as at the end of March (18.8% of the annual estimate). 

The fiscal reserve stood at BGN 11.88 billion, including BGN 9.98 billion deposits of the fiscal reserve with the central bank and commercial banks, and BGN 1.9 billion receivables from EU funds for certified expenses, advance payments and others.