Bulgaria's FinMin Expects Budget Surplus of BGN 627 M at End of September

Business » FINANCE | October 1, 2015, Thursday // 10:57| Views: | Comments: 0
Bulgaria: Bulgaria's FinMin Expects Budget Surplus of BGN 627 M at End of September Main entrance of the Finance Ministry. File photo

According to preliminary data and estimates, the Bulgarian Finance Ministry expects a budget surplus of BGN 627 M at the end of September, which represents 0.7 % of the country's forecasted GDP.

This is an improvement of 2.5 percentage points compared to the same period last year, when Bulgaria registered a budget deficit of nearly BGN 1.5 B.

The higher revenues and grants continue to be the main factors for the budget surplus, the website of the finance ministry informs..

Revenues and grants under the Consolidated Fiscal Programme (CFP) are expected to be slightly over BGN 24.1 B, which will amount to an increase of 12 % compared to the same period in 2014.

The higher tax and non-tax revenues and the higher receipts in terms of of grants (funds reimbursed by the European Commission) are the main factors contributing to the growth in revenues.

The expenditures under CFP, including the Bulgarian contribution to the EU budget, are anticipated to be slightly over BGN 23.5 B.

The part of the Bulgarian contribution to the EU budget, which has been paid as of end-September, amounts to BGN 624.5 M.

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Tags: Bulgaria, budget, surplus, deficit, revenues, expenditures, EU, CFP
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