site.btaState Budget Revenues Exceed Expenditures by BGN 100 Mln in January

In January 2025, state budget revenues exceeded expenditures by BGN 100 million, despite a projected deficit of BGN 400 million, the Finance Ministry said in a press release. The reason for this surplus is the unplanned revenue of approximately BGN 350 million from an agreement between the Bulgarian Defence Ministry and the Danish Ministry of Defence for cooperation in the field of defence material resources.

Revenues, grants, and donations under the Consolidated Fiscal Programme (CFP) for January 2025 amounted to nearly BGN 6.334 billion, including BGN 348.6 million in one-time revenues under the Ministry of Defence’s budget. Compared to January 2024, revenues increased by BGN 752.2 million (14.4%). This growth was mainly driven by tax revenues, which increased by BGN 777.2 million compared to January 2024. Non-tax revenues amounted to BGN 727.9 million.

Tax revenues (including social security contributions) amounted to more than BGN 5.232 billion. Tax and social security revenues increased by BGN 777.2 million (17.4%) compared to the same period in the previous year, forming 82.6% of total CFP revenues for the period.

Non-tax revenues totalled BGN 727.9 million, marking an increase of BGN 9.1 million (1.3%) compared to the same period in 2024.

Revenues from grants and donations amounted to BGN 373.5 million, including BGN 348.6 million in one-time revenues under the Ministry of Defence’s budget.

Expenditures under the CFP (including Bulgaria’s contribution to the EU budget) for January 2025 amounted to BGN 5.770 billion. In nominal terms, expenditures increased by BGN 959.4 million (19.9%) compared to January 2024.

Non-interest expenditures totalled over BGN 5.465 billion, increasing by BGN 831.1 million (17.9%) compared to January 2024. Current non-interest expenditures amounted to over BGN 5.244 billion. Capital expenditures (including net growth in state reserves) reached BGN 219.2 million. Interest payments amounted to BGN 149.8 million (compared to BGN 157.4 million in January 2024).

The CFP budget balance was positive, amounting to nearly BGN 564 million (0.3% of the projected GDP).

As of end-January 2025, the fiscal reserve stood at BGN 12.1 billion.