Ministry of Finance expects surplus of BGN 2,862.2 million under the Consolidated Fiscal Programme as of October 2018

Based on the preliminary data and estimates, the Consolidated Fiscal Programme (CFP) balance on a cash basis as of October 2018 is expected to be positive, amounting to BGN 2,862.2 million (2.6% of the projected GDP).

It should be noted that a considerable part of the expenditures planned for the year (mainly capital expenditures) are concentrated in the last months. This is related to payment of the work done in the implementation of infrastructure and investment projects in view of the construction season and the stages for implementation thereof. In addition to that the social expenditures, the maintenance costs, etc. are higher in the autumn and in the winter. Taking account of these factors, a considerable increase in the expenditures and shrinking of the just reported budget surplus are expected in the last months of the year.