site.btaConsolidated Fiscal Programme Shows BGN 2,829.9 Mln Cash Basis Deficit as of End-September

The Government approved a report on the cash execution of the state budget and of the main indicators of the consolidated fiscal programme (CFP) for the first nine months of 2024. 

Based on the data from the monthly reports on the cash execution of the first-level spending units' budgets, the balance under the CFP on a cash basis as of September 2024 is negative in the amount of BGN 2,829.9 million (1.4% of estimated GDP).

Revenues, benefits and donations under the CFP as of September 2024 were in the amount of BGN 52,031.3 million or 69.1% of annual estimates. Revenues increased by BGN 4,377.6 (9.2%) compared to those reported as of September 2023. Compared to the same period in 2023, tax revenues increased nominally by BGN 4,917.9 million (13.2%), non-tax revenues decreased by BGN 1,365.7 million (15.9%), and receipts in the form of aid and donations (mainly grants under EU programmes and funds) were up by BGN 825.4 million. 

Tax revenues (including income from insurance contributions) amounted to BGN 42,291.9 million, which represents 73.0% of the estimates for the year and form 81.3% of the total receipts under the CFP for the period. Revenues in the form of direct taxes amounted to 8,414.2 million, which represents 65.4% of the estimates for 2024 and an increase of BGN 1,012.3 million (13.7%) compared to those reported as of September 2023. Revenues from indirect taxes amounted to BGN 18,855.3 million which represents 73.9% of the 2024 budget provided for in the Regional Development Plan and an increase of BGN 3.1 million compared to those reported as of September 2023. Revenues from other taxes were in the amount of BGN 1,810.2 million (including BGN 412.3 million from the budget of the Electricity System Security Fund compared to BGN 802.8 million as of September 2023), which represents 97.8% of the annual estimate and a decrease of BGN 326.1 million compared to those reported as of September 2023. Incomes from social and health insurance contributions amounted to BGN 13,212.2 million or 74.5% of the estimates for 2024 and a growth of BGN 1,828.6 million (16.1%) compared to those reported for the same period of 2023.

Non-tax revenues amounted to BGN 7,218.8 million, or 70.4% of the annual estimates.

The income from aid and donations was in the amount of BGN 2,520.5 million. 

Expenditures under the CFP (including the contribution of the Republic of Bulgaria to the EU budget) as of September 2024 amounted to BGN 54,861.1, which is 67.3% of the annual estimates. In the individual expenditure indicators, there was an increase mainly in social expenditure, as a result of the higher pensions paid after the increases that came into force in July 2023 and July 2024, as well as in personnel costs, after the increase in the remuneration of teaching staff and in other administrations.

The part of the contribution of the Republic of Bulgaria to the EU budget, paid as of September 30, 2024. from the central budget, amounted to BGN 1,120.9 million, which is in compliance with the currently effective legislation in the field of the EU's own resources.

The amount of the fiscal reserve as of September 30, 2024. was BGN 14,838.2 million, including BGN 13,401.6 million in deposits of the fiscal reserve in the Bulgarian National Bank and other banks and BGN 1,436.6 million in receivables from the funds of the European Union for certified expenses, advances and others.