site.btaConsolidated Fiscal Programme Shows BGN 1.7 Bln Deficit on Cash Basis in August

The balance under the Consolidated Fiscal Programme (CFP) on a cash basis in August 2024 showed a deficit of BGN 1,681.6 million, which is 0.8% of the projected Gross Domestic Product (GDP), the Finance Ministry said on Monday. 

Revenues, grants, and donations under the CFP as of August 2024 are at BGN 46,490.6 million, or 61.7% of the annual estimates. Receipts increased by BGN 4,015.4 million (9.5%) compared to those reported as of August 2023. Compared to the same period last year, CFP proceeds have increased by BGN 4,456.3 million (13.5%), non-tax revenues have decreased by BGN 1,324.8 million (17.0%) and aids and donations (mainly grants under EU programmes and funds) have increased by BGN 883.9 million.

CFP expenditures, including Bulgaria’s contribution to the EU budget, amounted to BGN 48,172.1 million as of August 2024, representing 59.1% of the annual estimates. There is an increase mainly in social expenditure due to the higher pensions paid from July 2023 to July 2024, as well as due to the salary increases for teaching staff and other administration.

As of August 31, Bulgaria's contribution to the EU budget amounted to BGN 10,679.0 million, including BGN 9,231.5 million in fiscal reserve deposits in the Bulgarian National Bank and other banks and BGN 1,447.5 million in receivables under EU funds for certified expenditures, advance payments, etc. 

The share of the Republic of Bulgaria's contribution to the EU budget paid by August 31 from the central budget amounts to BGN 980.0 million, which is in compliance with the current EU own resources legislation.