site.btaBulgaria's Budget Shows Lv 1,264.5 Mln Surplus in September 2019

November 1 (BTA) - The Bulgarian Finance Ministry
released Friday data on the performance of the Consolidated
Fiscal Programme (CFP) as of September 30, 2019.

Based on the monthly reports of budget authorizers by
delegation, the CFP balance on a cash basis as of September 2019
 was positive, amounting to 1,264.5 million leva (1.1 per cent
of forecast GDP) and was formed by a national budget surplus of
1,205.7 million leva and a EU funds surplus of 58.8 million
leva.

The CFP revenues and grants as of September 2019 stood at
32,797.9 million leva, or 74.8 per cent of the annual estimates.
 Compared to the same period of 2018, tax and non-tax revenues
grew by 3,224.6 million leva, (11.6 per cent), while grant
revenues (mainly from EU programmes and funds) increased by
409.7 million leva.

Tax revenues, including revenues from social and health
insurance contributions, totalled 26,096.2 million leva, which
was 75.5 per cent of the annual plans.

Direct tax revenues amounted to 4,660.2 million leva, or 71.0
per cent of the annual estimates.

Indirect tax revenues amounted to 12,758.7 million leva, or 77.6
 per cent of the annual plans. VAT revenues amounted to 8,416.5
million leva, or 77.7 per cent of the plan. Non-refunded VAT as
of March 31, 2019 amounted to 74.4 million leva. Excise duty
revenues amounted to 4,136.7 million leva, (77.6 per cent of the
 annual estimates). Customs duties revenues were 172.7 million
leva or 72.9 per cent of the annual plan.

Revenues from other taxes (including property taxes) amounted to
 927.7 million leva, or 79.3 per cent of the annual estimates.

Revenues from social and health insurance contributions were
7,749.6 million leva, or 74.7 per cent of those planned for the
year.

Non-tax revenues amounted to 4,954.9 million leva, or 74.8 per
cent of the annual estimates.

Revenues from grants amounted to 1,746.8 million leva.

The CFP expenditures (including the contribution of Bulgaria to
the EU budget) amounted to 31.533.4 million leva as of September
 2019, which was 68.1 per cent of the annual estimates.

At 29,954.3 million leva, non-interest expenditures represented
67.9 per cent of the annual target. Non-interest current
expenditures as of September 2019 amounted to 25,337.8 million
leva, and capital expenditures (including net increment of the
State reserve) totalled 4,588.7 million leva. The current and
capital transfers to other countries amounted to 27.8 million
leva. Interest payments amounted to 581.6 million leva, or 86.9
per cent of those planned for 2019.

The part of Bulgaria's contribution to the EU budget, paid from
the central-government budget as of September 30, 2019, amounted
 to 997.5 million leva.

The fiscal reserve as of September 30, 2019 was 10,140 million
leva, including 10,120 million leva in fiscal reserve deposits
with the Bulgarian National Bank and commercial banks and 20
million leva in receivables under the EU funds for certified
expenditure, advance payments, etc.

* * *

The Finance Ministry has also published early CFP estimates for
October 2019. The numbers show a CFP surplus of 1,107.9 million
leva as at October 31, 2019, or 0.9 per cent of the forecast
GDP.

Total revenues and grants under the CFP between January and
October 2019 are estimated at 36,305.8 million leva, which is
82.8 per cent of the annual target. This implies an increase by
3,692.9 million leva compared with the same period in 2018. Tax
revenues increase by 2,342.4 million leva, non-tax revenues, by
1,075 million leva, and grant revenues, by 275.5 million leva.

Total expenditures under the CFP, including Bulgaria's
contribution to the EU budget, between January and October 2019
amount to 35,197.9 million leva, or 76 per cent of the annual
estimate. This compares with 29,768.8 million leva a year
earlier. RY/ZH


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