site.btaFinance Ministry Publishes Data on Implementation of Consolidated Fiscal Programme as of July 31

The balance of the Consolidated Fiscal Programme (CFP) as of the end of July was positive amounting to BGN 455.3 million (0.2% of the GDP), formed by an BGN 423.2 million excess of revenues over expenditures under the State Budget and BGN 32.1 million of EU funds, Finance Ministry said on Thursday.

Revenues, benefits and donations under the CFP as of July amounted to BGN 37,512.1 million or 54.0% of the annual estimates.

Expenditure under the CFP amounted to BGN 37,056.8 million, which is 50.0% of the annual estimates.

Еxpenditures increased by BGN 4,741.8 million compared to the first half of 2022.

The most significant increases were reported in pension expenditure, staff costs, capital expenditure, etc. The increase in expenditure was due to enacted regulations, including changes in the pension regulation, settlement of obligations under the budget of the Regional Development Ministry, enacted increased salary levels in a number of administrations, etc.

Bulgaria's contribution to the EU budget paid by July 31 from the State Budget amounted to BGN 990.3 million, which is in compliance with the current legislation in the field of EU own resources.

The amount of the fiscal reserve as of July 31 was BGN 13.1 billion, including BGN 12.6 billion of deposits of the fiscal reserve with the Bulgarian National Bank and banks and BGN 0.5 billion of receivables from the EU funds for certified expenditure, advances and others.

Data on the implementation of the CSP as of July 31 are published on the website of the Finance Ministry.