CFP budget balance expected to be positive in January for the first time since 2009

The preliminary data and estimates of the Consolidated Fiscal Programme (CFP) balance on a cash basis show that it is expected to be positive in January 2015, amounting to around BGN 85 million, or 0.1% of the estimated GDP. This will be the first budget surplus for January since 2009.  For comparison, the balance for January 2014 was a deficit of BGN 373.3 million, or 0.5% of the projected GDP, which means that compared to the first month of the previous year the budget stance improves by 0.6% of GDP.

The estimated improvement in the budget stance is mostly due to a growth in revenues, specifically tax revenues. In January 2015, CFP revenues and grants are expected to be around BGN 2,475 million, 8.2% of the annual plans, which accounts for a nominal growth of 19.5%, or BGN 404 million compared to January 2014. The estimated growth in revenues in January 2015 outpaces considerably the one reported in January 2013 and 2014.

Based on operational data and estimates, the expenditures under the consolidated fiscal programme, including the contribution of the Republic of Bulgaria to the EU budget, as of 31/01/2015 amount to around BGN 2,390 million, which is 7.3 % of the annual plans. Expenditures, in nominal terms, remain close to those reported in the same month of the previous year.

The part of Bulgaria's contribution to the EU budget, as paid as of 31/01/2015 from the central budget, amounts to BGN 75.8 million, which complies with Council Regulation 1150/2000 of 22 May 2000 implementing Decision 94/728/EC, Euratom on the system of the Communities' own resources.

The statistical data and the Information Bulletin on the Execution of the Consolidated Budget as of 31 January 2015 based on the monthly data on cash execution of first-level spending units will be published on the website of the Ministry of Finance at the end of February 2015.