MoF expects an excess of revenues over expenditures under the Consolidated Fiscal Programme

Based on the preliminary data and estimates, the Consolidated Fiscal Programme (CFP) balance for January 2021 is expected to be positive, amounting to BGN 405 million (0.3 % of the forecast GDP). For comparison, the excess of revenues over expenditures for January 2020 was BGN 878.6 million. As of January 2021, CFP revenues, grants and donations have decreased insignificantly as compared to those reported for the same month of the previous year (by around 2.7 percent), while expenditures have registered an increase related mainly to the social and economic measures taken to overcome the negative effects of the COVID-19 pandemic and the higher expenditures on social payments (mainly in the part of pensions), staff costs, etc.

Key CFP parameters based on preliminary data and estimates:

As of January 2021, CFP revenues, grants and donations are expected to be BGN 3,675 million, or 7.7 % of the annual estimates, shrinking by 2.7 percent as compared to those reported for January 2020. CFP tax and non-tax revenues have decreased by BGN 131.4 million in nominal terms as compared to January 2020, while proceeds from grants and donations (mostly EU programme and fund grants) have increased by BGN 31.2 million.

The expenditures under the Consolidated Fiscal Programme, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 3,270 million for January 2021, which is 6.2 % of the annual estimates. For comparison, the expenditures under the CFP for January 2020 amounted to BGN 2,895.9 million.

The part of Bulgaria's contribution to the EU budget, paid from the central budget as of 31.01.2021, amounts to BGN 165.5 million, which complies with the current legislation in the area of EU own resources.

The statistical data and the Information Bulletin on the Execution of the State Budget and the key Consolidated Fiscal Programme indicators based on the monthly data on cash execution of first-level spending units as of January 2021 will be published on the website of the Ministry of Finance at the end of February 2021.

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FINANCE

MoF expects an excess of revenues over expenditures under the Consolidated Fiscal Programme

Amounting to BGN 405 million for January 2021 More