site.btaConsolidated Fiscal Programme Indicates BGN 610 Mln Deficit at end-November 2022

Consolidated Fiscal Programme Indicates BGN 610 Mln Deficit at end-November 2022
Consolidated Fiscal Programme Indicates BGN 610 Mln Deficit at end-November 2022
Finance Ministry building in Sofia (BTA Photo)

According to preliminary data and estimates, the Consolidated Fiscal Programme (CFP) is expected to show a deficit of BGN 610 million as of end-November 2022, the Finance Ministry said Wednesday. Cumulatively for the past eleven months of the year, the CFP deficit is expected to be around BGN 605 million (0.4% of projected GDP).  

Key CFP parameters based on preliminary data and estimates:

As of November 2022, CFP revenues, grants and donations are expected to be BGN 56,352 million, increasing by BGN 8,573 million (17.9%) from a year earlier.

CFP tax revenues grow by BGN 5,430 million, and non-tax revenues grow by BGN 3,668 million in nominal terms compared to November 2021, while revenues from grants and donations (mostly EU programme and fund grants) dropped by BGN 525 million.

As of November 2022, CFP expenditures, including Bulgaria's contribution to the EU budget, amounted to BGN 56,957 million (86.4% of the annual estimates). By comparison, CFP expenditures as of November 2021 totalled BGN 47,141 million.

The portion of Bulgaria's contribution to the EU budget, as paid from the central government budget as of November 30, 2022, amounted to BGN 1,678 million, which complies with the existing legislation in the area of EU own resources.

/YV/

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By 22:18 on 27.01.2023 Today`s news

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