site.btaConsolidated Fiscal Programme Shows BGN 972.16 Mln Cash Basis Deficit as of End-July

The Consolidated Fiscal Programme (CFP) as of end-July showed a cash basis deficit of BGN 972.1 million, or 0.5% of the estimated GDP, based on data from the monthly reports on the cash performance of the budgets of first-level spending units, the Ministry of Finance said on Friday. 
 
The revenues, grants, and donations under CFP as of July amounted to BGN 40,846.8 million, or 54.3 % of the annual estimates. The revenues increased by BGN 3,334.7 million (8.9%) year-on-year. Compared with the same period last year, tax revenues went up by BGN 3,509.5 million (12.2%) in nominal terms, while non-tax revenues decreased by BGN 1,053.3 million (14.7%). Proceeds from grants and donations (mainly grants under EU programmes and funds) were up by BGN 876.6 million, the Ministry added. 

Tax proceeds, including revenues from social security contributions, amounted to BGN 32,375.2 million, or 55.9% of the estimated for the year, accounting for 79.3% of the total CFP revenues for the period. 

The expenditures under CFP as of July, including Bulgaria's contribution to the EU budget, amounted to BGN 41,818.9 million, or 51.3% of the annual estimates. 
By July, the fiscal reserve was BGN 11,089.4 million, including BGN 9,091.1 million in fiscal reserve deposits in the Bulgarian National Bank and other banks and BGN 1,998.3 million in receivables under EU funds for certified expenditures, advance payments, etc.