site.bta Consolidated Fiscal Programme Shows BGN 1,179.6 Mln Surplus on Cash Basis As at End of June

Based on the monthly data on the cash implementation of first-level spending units' budgets, the Consolidated Fiscal Programme (CFP) showed a surplus of BGN 1,179.6 million (0.8% of the projected GDP) on a cash basis as at June 30, 2022, according to a report of the Finance Ministry released on Friday. The surplus was formed by an excess of revenues over expenditures of BGN 832.6 million under the national budget, and of BGN 347 million under EU funds.

On a monthly basis, revenues exceeded expenditures by BGN 574.5 million. 

CFP revenues, grants and donations amounted to BGN 28,247.5 million as at end-June, or 47.3% of the updated budget calculations. Compared to the same period of 2021, the revenues grew by BGN 3,486.4 million (14.1%). 

CFP expenditures (including Bulgaria's contribution to the EU budget) amounted to BGN 27,067.8 million, or 41.1% of the annual figure. In comparison, the like figure in 2021 was BGN 24,645 million.

As at the end of June 2022, the fiscal reserve stood at BGN 9.5 billion. 

Based on preliminary data and estimates, the Finance Ministry expects the CFP to show a surplus of BGN 1,560 million leva (1.1% of the projected GDP) at the end of July 2022. On a monthly basis, revenues are expected to exceed expenditures by BGN 380 million.