site.btaJan-Feb Budget Deficit Reaches Five-year Low

ESD 16:51:00 01-03-2015
ZH1650ES.103
103 ECONOMY - FINANCE - DEFICIT

Jan-Feb Budget Deficit
Reaches
Five-year Low


Sofia, March 1 (BTA) - The deficit for January and February 2015
is the lowest deficit for the like period in the past five
years, the Finance Ministry said on February 28. According to
preliminary data and estimates, the cash deficit in the
consolidated fiscal programme (CFP) as at February 2015 is
expected to be about 130 million leva (-0.2 per cent of the
Gross Domestic Product, GDP).

At the same time last year, the deficit stood at 688.2 million
leva (-0.8 per cent of the GDP), meaning that the current budget
position improves by 0.6 per cent of the GDP.

Higher revenues continue to be the main factor for the improving
budget balance, while expenditure remains close to the figure
reported for the like period in 2014.

Revenues and grants under CFP as at February 2015 are estimated
at approximately 4,750 million leva (15.7 per cent of the annual
target) which constitutes a nominal growth of 13.0 per cent
(548 million leva) compared to January and February 2014. The
growth in revenues in the first two months of 2015 considerably
exceeds the respective y/y figure reported in 2014 and 2013.

As per preliminary data and estimates, the expenditure
(including Bulgaria's payment in the EU budget) in the CFP as at
February 2015 amounts to 4,880 million leva, or 14.9 per cent
of the annual target.

The portion of Bulgaria's payment to the EU budget paid as at
the end of February from the central government budget amounts
to 226.3 million leva, which is in compliance with Council
Regulation (EC, Euratom) No. 1150/2000 of 22 May 2000
implementing Decision 94/728/EC, Euratom on the system of the
Communities' own resources. LN /ZH/
//