MoF Expects Excess of Revenues over Expenditures of BGN 1,560 million under the Consolidated Fiscal Programme as of end-July 2022
Based on preliminary data and estimates the budget balance of the Consolidated Fiscal Programme (CFP) as of July 2022 is expected to be positive, amounting to BGN 1,560 million (1.1 % of the forecast GDP). On a monthly basis, for July the excess of revenues over expenditures is expected to be BGN 380 million, the main contributors for it being the higher receipts under the EU funds accounts as well as the good parameters of tax revenue performance. The growth of revenues was also positively influenced by the targeted contribution of BGN 456.0 million paid in July by the Bulgarian Energy Holding EAD to the Electricity System Security Fund, calculated for the period January – May 2022, aimed at covering losses under Article 36b, para. 1, item 4 of the Energy Law.
Key CFP parameters on the basis of preliminary data and estimates:
As of July 2022, CFP revenues, grants and donations are expected to be BGN 33,776 million (56.6 % of the annual estimates), growing by BGN 4,522 million. (15.5%) compared to the same period of 2021. Compared to July 2021, tax proceeds under CFP rise by BGN 3,338 million in nominal terms, non-tax proceeds – by BGN 842 million, and proceeds from grants and donations (mostly EU programme and fund grants) – by BGN 343 million.
The Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, as of July 2022 amount to BGN 32,215 million (48.9 % of the annual estimates). For comparison, the expenditures under the CFP as of end-July 2021 amounted to BGN 28,548 million.
The part of Republic of Bulgaria's contribution to the EU budget, paid from the central budget as of 31 July 2022, amounts to BGN 952 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 indicators of the Consolidated Fiscal Programme based on data from the monthly reports on the cash performance of the budgets of the first-level spending units as of July 2022 will be published on the website of the Ministry of Finance at the end of August 2022.