site.btaFinance Ministry Publishes Data on Consolidated Fiscal Programme's Implementation as of End-December, 2024

Based on data from the monthly reports on the cash performance of the budgets of first-level spending units, the balance of the Consolidated Fiscal Programme (CFP) on a cash basis for 2024 is negative in the amount of BGN 6,138.0 million (3.0% of the estimated GDP), the Ministry of Finance said here on Friday. 

In an extremely tight budget environment, the reported data indicate that Bulgaria's budgetary position is in line with the CFP target set in the 2024 State Budget Act, adopted in the end of 2023.

The CFP revenues, grants and donations as of December 2024 amount to BGN 71,999.2 million or 95.6% of the annual estimates. Proceeds have increased by BGN 4,958.4 million (7.4%) compared to the reported in December 2023. 

Tax proceeds (including revenues from social security and health insurance contributions) amount to BGN 58,700.2 million, which represents 101.3% of the estimated for the year and accounted for 81.5% of the total CFP receipts for the period.  

CFP expenditure (including Bulgaria's contribution to the EU budget) as of December 2024 amounts to BGN 78,137.2 million, which is 95.9% of the annual estimates. In the individual expenditure items, the increase is mainly in social expenditure, due to the higher pensions paid after the increases effective from July 2023 and July 2024, as well as in personnel expenditure, after the increase in the salaries of teaching staff and in other administrations with the 2023 and 2024 state budget acts, among others. 

The amount of the fiscal reserve as of 31.12.2024 is BGN 11,865,276 million, including BGN 9,585,940 million of deposits of the fiscal reserve with the BNB and banks and BGN 2,279,336 million of receivables from the European Union funds for certified expenditure, advances and others.