site.btaConsolidated Fiscal Programme Balance as of Q1 of 2025 Expected to Show Deficit of BGN 1.9 Bln

Based on preliminary data and estimates, the budget balance under the consolidated fiscal programme (CFP) is expected to be a deficit of BGN 1.9 billion (0.9% of projected GDP) by the end of March 2025, the Finance Ministry said in a press release on Tuesday. The 2025 State Budget Bill sets an indicative amount of the deficit under CFP for this year at BGN 6.4 billion.

With the exception of January, when a large amount of one-time revenues entered the Exchequer, February and March had more expenditures than revenues, mostly due to the higher social and health insurance payments, an increase of spending on personnel, capital expenditures, and others.

CFP revenues, aids and donations as of March 2025 are expected to amount to BGN 16.8 billion, up by 6.8% from the first quarter of 2024, mostly thanks to tax revenues that grew by 14.2% from March 2024.

The statistical data and the Information Bulletin on the implementation of the State Budget and the main indicators of the Consolidated Fiscal Programme, based on data from the monthly reports on the cash execution of the budgets as of March 2025, will be published on the website of the Ministry of Finance at the end of April 2025.