site.btaConsolidated Fiscal Programme Shows BGN 636 Mln Cash Basis Deficit as of End-June

The Consolidated Fiscal Programme (CFP) as of end-June showed a cash basis deficit of BGN 636 million, or 0.3% of the estimated GDP, based on data from the monthly reports on the cash performance of the budgets of first-level spending units, the Ministry of Finance said on Wednesday.

The revenues, grants, and donations under CFP as of June amounted to BGN 34,493.6 million, or 45.8 % of the annual estimates. The revenues increased by BGN 3,088.6 million (9.8%) year-on-year. Compared to the same period last year, tax revenues went up by BGN 2,623.5 million (10.7%) in nominal terms, while non-tax revenues decreased by BGN 331 million (5.9%). Proceeds from grants and donations (mainly grants under EU programmes and funds) amounted to BGN 1,999.5 million, up by BGN 796.1 million, the Ministry added.

Tax proceeds, including revenues from social security contributions, amounted to BGN 27,204.1 million, or 46.9% of the estimated for the year, accounting for 78.9% of the total CFP revenues for the period.

Non-tax revenues amounted to BGN 5,290 million, or 51.6% of the annual estimates.

The expenditures under CFP as of June, including Bulgaria's contribution to the EU budget, amounted to BGN 35,129.6 million, or 43.1% of the annual estimates.

The fiscal reserve was BGN 11,303.1 million, including BGN 9,143.3 million in fiscal reserve deposits in the Bulgarian National Bank and other banks and BGN 2,159.8 million in receivables under EU funds for certified expenditures, advance payments, etc.