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MF expects a surplus of BGN 1,103.8 million under the Consolidated Fiscal Programme for January 2019

31.01.2019

Based on preliminary data and estimates the balance of the Consolidated Fiscal Programme (CFP) on a cash basis for January 2019 is expected to be positive, amounting to BGN 1,103.8 million (0.9 % of the forecast GDP). For comparison, a CFP surplus of BGN 1,162.4 million (1.1 % of the forecast GDP) was reported for January 2018.

Key CFP parameters on the basis of preliminary data and estimates:

For January 2019, CFP revenues and grants are expected to be BGN 3,728.7 million (8.5 % of the annual estimates) which is close to the amount reported for the same period of last year. The performance of tax and non-tax revenues is 8.7 % of the estimates for the year.

The Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, for January 2019 amount to BGN 2,624.9 million, which accounts for 5.9 % of the annual estimates. For comparison, CFP expenditures for January 2018 amounted to BGN 2,543.9 million.

The part of Bulgaria's contribution to the EU budget, paid from the central budget as of 31.01.2018, amounts to BGN 149.0 million, which complies with the current legislation in the area of EU own resources – Council Decision 2014/335/EU, Euratom on the system of own resources of the European Union, Council Regulation (EU, Euratom) No 608/2014 of 26 May 2014 laying down implementing measures for the system of own resources of the European Union, and Council Regulation (EU, Euratom) No 609/2014 of 26 May 2014 on the methods and procedure for making available the traditional, VAT and GNI-based own resources and on the measures to meet cash requirements as amended by Council Regulation (EU, Euratom) No 2016/804 of 17 May 2016.

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 for January 2019 will be published on the website of the Ministry of Finance at the end of February 2019.

 

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