The Bulgarian Ministry of Finance Expects a Budget Surplus of BGN 1.5 billion as of February

Business » FINANCE | March 1, 2019, Friday // 12:33
Bulgaria: The Bulgarian Ministry of Finance Expects a Budget Surplus of BGN 1.5 billion as of February

On the basis of preliminary data, the Finance Ministry expects the balance of the consolidated fiscal program (CFP) on a cash basis as of February 2019 to be positive at the amount of BGN 1 498,5 million (1,3% of the projected GDP).

CFP revenues and aid at the end of the month are expected to amount to BGN 7,237.1 million, or 16.5% of the annual estimate. Compared to February 2018, CFP revenues increased by BGN 1,024.7 million, with both tax and non-tax receipts, as well as revenues from grants and donations, where grants from programs and funds EU.

On the basis of the estimates, tax revenues reported an increase of BGN 212.1 million, non-tax revenues - BGN 388.2 million, and income from grants and donations - BGN 424.4 million. The expenditures under the Consolidated Fiscal Program (including the contribution of the Republic of Bulgaria to the EU budget) as of February 2019 amounted to BGN 5,738.6 million, which is 12.9% of the annual estimate.

By way of comparison, the CFP costs to February 2018 amounted to BGN 5,460.1 million. The part of the Republic of Bulgaria's contribution to the EU budget paid to the central budget on 28.02.2019 amounts to BGN 371.8 million. According to data from the monthly accounts of the first-level budget spenders, the cash balance of the CFP for January 2019 is positive at the amount of BGN 1,005.9 million (0.9% of the projected GDP) and is formed by a surplus on the national a budget of BGN 944.1 million and a surplus on European funds amounting to 61.7 million leva.

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