Consolidated Fiscal Programme Performance Data as of 30.11.2020
Based on the monthly data on cash execution of first-level spending units' budgets, CFP revenues, grants and donations as of November 2020 amount to BGN 39,698.8 million, or 91.3% of the annual estimates. Compared to the same period of the previous year, they decrease by BGN 155.1 million in nominal terms. Tax and non-tax proceeds register a drop by BGN 592.2 million (1.6%), and grant and donation proceeds (mostly EU programme and fund grants) are by BGN 437.1 million, or 22.2%, more than in the period of January – November 2019.
Tax proceeds, including revenues from social security contributions, total BGN 32,037.3 million, which accounts for 91.8% of the tax revenues planned for the year. Direct tax revenues amount to BGN 5,652.8 million, or 85.9% of those planned for the year. Indirect tax proceeds amount to BGN 15,313.9 million (93.8% of the estimates for the year), with VAT revenues amounting to BGN 10,072.3 million (94.7% of those planned), excise duty revenues amounting to BGN 5,003.3 million (91.8% of the estimates) and customs duty revenues amounting to BGN 192.0 million (102.4% of the annual estimates). Proceeds from other taxes, including property and other taxes under the Corporate Income Tax Law, amount to BGN 1,115.9 million, or 92.3% of the annual estimates. Revenues from social security and health insurance contributions are BGN 9,954.7 million, which accounts for 92.1% of the estimates for the year.
Non-tax revenues amount to BGN 5,257.9 million, which accounts for 89.3% of the annual estimates, while grant and donation revenues amount to BGN 2,403.6 million.
CFP expenditures for November 2020, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 39,912.5 million, which accounts for 81.9% of the annual estimates. For comparison, the CFP expenditures as of November 2019 amount to BGN 38,553.0 million. The higher expenditures are related to some socio-economic measures aimed at minimising the crisis implications, including payments under the 60/40 measure, a monthly pension allowance of BGN 50 for all retired persons in the period from August to November, payments for farmers, as well as other expenditures under the measures approved. Comparing the capital expenditures with those in the same period of the previous year, one should take into account the impact in 2019 of the one-off expenditures incurred for the project for the acquisition of a new type of military aircraft for the Bulgarian Air Forces. Compared to the same period of the previous year, there is a nominal increase in social payments, staff costs, subsidy costs, etc. which take account of the majority of expenditures related to the socio-economic measures aimed at tackling the pandemic.
Non-interest expenditures amount to BGN 38,144.6 million, which accounts for 82.2% of the annual estimates. Non-interest current expenditures as of November 2020 amount to BGN 34,503.0 million, capital expenditures (including net increment of state reserve) amount to BGN 3,602.5 million. The current and the capital transfers to other countries amount to BGN 39.2 million. Interest payments amount to BGN 583.1 million, or 80.4% of those planned for 2020.
The part of Bulgaria’s contribution to the EU budget, as paid from the central budget as of 30.11.2020, amounts to BGN 1,184.8 million, which complies with the existing legislation in the area of EU own resources, i.e. Council Decision 2014/335/EU 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) 2016/804 of 17 May 2016.
The CFP budget balance on a cash basis as of 30 November 2020 is negative, amounting to BGN 213.7 million, or 0.2% of the projected GDP, and is formed by a national budget deficit of BGN 255.8 million and by an excess of revenues over expenditures of BGN 42.1 million in EU funds expenditures.
The fiscal reserve as of 30.11.2020 is BGN 12.6 billion, including BGN 12.3 billion of deposits in the BNB and in banks and BGN 0.3 billion of receivables under the EU Funds for certified expenditures, advance payments, etc.
The Consolidated Fiscal Programme implementation data as of 30 November 2020 are published on the website of the Ministry of Finance, in Statistics section. The statistics is accompanied by an Information Bulletin on the Execution of the State Budget and the Main Indicators of the Consolidated Fiscal Programme, which represents a short analysis of the performance of the key budget parameters on a consolidated level and by constituent budgets.
 The data is in accordance with the estimates to the 2020 State Budget of the Republic of Bulgaria Law (promulgated in the State Gazette, issue No 100 of 20.12.2019, amended, issue No 28 of 24.3.2020, amended and supplemented, issue No 34 of 9.4.2020, issue No 60 of 7.7.2020, supplemented, issue No 98 of 17.11.2020, amended and supplemented, issue No 104 of 8.12.2020).