site.btaGovernment Approves Report on Consolidated Fiscal Programme Performance for First Half of 2022

By its decision, the government adopted a report on the consolidated fiscal programme performance for the first half of 2022.

On the basis of data from the quarterly reports on cash execution of budgets by the primary budget managers, the budget balance under the consolidated fiscal programme (CFP) for the first half of 2022 was positive in the amount of BGN 1,176.0 million (0.8% of the estimated GDP, with an assumed deficit in the National Budget for 2022 of 4.1%) and was formed by an excess of revenues over expenditures from the national budget in the amount of BGN 837.6 million, and from European funds in the amount of BGN 338.4 million.

As of June 30, 2022, the received revenues, benefits and donations under the CFP were in the amount of BGN 28,247.9 million or 47.3% of the annual estimates. Compared to the same period of the previous year, receipts as of June 2022 increased by BGN 3.5 billion (14.1%). The growth compared to the previous year is mainly due to the higher tax and non-tax revenues, which increased by BGN 3.3 billion, and aid receipts increased by BGN 0.2 billion.

Expenditures under the CFP (including the contribution of the Republic of Bulgaria to the EU budget) as of June 2021 amounted to BGN 27,071.9 million, which is 41.1% of the annual estimates. For comparison, the expenditures under the CFP as of June 2020 were in the amount of BGN 24,645.0 million. The significant growth of expenditures in the first half of 2022 compared to the same period of the previous year was related to the higher amount of expenditures under the national budget.

Non-interest expenditures amounted to BGN 25,870.4 million, which is 41.0% of the annual estimate.

The contribution of the Republic of Bulgaria to the EU budget paid as of June 30, 2022 from the central budget amounted to BGN 812.8 million, which is in compliance with the current legislation in the field of the EU's own resources.

The amount of the fiscal reserve as of June 30, 2022 was BGN 9.5 billion, including BGN 9.1 billion deposits of the fiscal reserve in the Bulgarian National Bank and other banks, and BGN 0.4 billion  receivables from the funds of the European Union for certified expenditures, advances and others.