site.btaFinance Ministry: Consolidated Fiscal Programme Balance as of November 2024 Expected to Show Deficit of BGN 3.7 Bln

Based on preliminary data and estimates, the budget balance under the consolidated fiscal programme (CFP) is expected to be a deficit of BGN 3.7 billion (1.9% of projected GDP) by the end of November 2024, the Finance Ministry said in a press release on Monday.

On a month-on-month basis, the budget balance improved in November, with revenues for the month exceeding expenditures by nearly BGN 0.3 billion. This was mainly due to higher corporate tax receipts.

Main parameters of the CFP based on preliminary data and estimates:

CFP revenues, aids and donations as of November 2024 are expected to amount to BGN 65.2 billion, which is 86.7% of annual estimates. Compared to November 2023, CFP revenues increase by BGN 5.1 billion (8.5%).

CFP expenditures (including Bulgaria's contribution to the EU budget) as of November 2024 amounts to BGN 68.9 billion, which is 84.6% of the annual estimates. Compared to the previous year, an increase is reported mainly in social expenditure, due to the higher pensions paid, following the increases effective from July 2023 and July 2024.

The statistical data and the Information Bulletin on the implementation of the State Budget and the main indicators of the Consolidated Fiscal Programme, based on data from the monthly reports on the cash execution of the budgets as of November 2024, will be published on the website of the Ministry of Finance at the end of December 2024.