site.btaConsolidated Fiscal Programme Shows Nearly BGN 147 Mln Budget Surplus in May

In May, Bulgaria's consolidated fiscal programme (CFP) remained in surplus, according to newly released government finance statistics Friday. As at the end of May, the surplus stood at BGN 147.9 million (0.1% of GDP projections).

Revenues, donations and grants stood at BGN 28,256 million at the end of May, which was 37.5% of the annual target. Year-on-year, they grew by BGN 3.3339 billion. Compared with this time last year, tax revenues increased in nominal terms by BGN 2.065 billion, non-tax revenues increased by BGN 414.2 million, and grants and donations grew by BGN 854.6 million.

Tax revenues (including social security contributions) totalled BGN 21.8605 billion (37.7% of annual estimates) and accounted for 77.4% of total revenues.

Non-tax revenues totalled BGN 4.5617 billion, or 44.5% of annual projections.

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

Total expenditures, including Bulgaria's contribution to the EU budget, amounted to BGN 28.1094 billion as at the end of May (34.5% of the annual estimate).

Bulgaria's contribution to the EU budget stood at BGN 575.2 million.

By May 31, the fiscal reserve stood at BGN 11.6241 billion, including BGN 9.9565 billion deposits of the fiscal reserve with the central bank and commercial banks, and BGN 1.6676 billion receivables from EU funds for certified expenses, advance payments and others.