Consolidated Fiscal Programme performance data as of 30.11.2019 are published
Based on data from the monthly reports on the cash performance of the budgets of the first-level spending units, the revenues, grants and donations under CFP as of November 2019 are to the amount of BGN 39,853.8 million, or 90,9 % of the annual estimates. Compared to the same period of the previous year, revenues, grants and donations under CFP have risen by BGN 4,044.2 million in nominal terms, including tax and non-tax revenues by BGN 3,780.7 million (11.1 %) and proceeds from grants and donations (mainly grants under EU Programmes and Funds) by BGN 263.6 million (15.5 %).
Tax proceeds, including revenues from social security and health insurance contributions, total BGN 31,988.0 million, which is 92.6 % of the annual plans.
Revenues from direct taxes amount to BGN 5,635.5 million, or 85.9 % of the annual estimates.
Indirect tax revenues amount to BGN 15,701.6 million, or 95.5 % of the annual plans. The VAT proceeds amount to BGN 10,355.7 million, or 95.6 % of the plan. The excise duty revenues amount to BGN 5,088.0 million (95.4 % of the annual estimates). Custom duties revenues are BGN 213.3 million or 90.1 % of the annual plan.
Proceeds from other taxes, including property taxes and other taxes under the Corporate Income Tax Law, amount to BGN 1,091.1 million, or 93.3 % performance of the annual estimates.
Revenues from social security and health insurance contributions are BGN 9,559.8 million, or 92.1 % of those planned for the year.
Non-tax revenues amount to BGN 5,899.4 million, or 89.0 % of the annual estimates.
Proceeds from grants and donations amount to BGN 1,966.5 million.
The expenditures under the CFP, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 38,553.0 million as of November 2019, which is 83.3 % of the annual estimates. The nominal increase of expenditures in comparison to the same period of the previous year is due to the higher capital expenditures (due to the higher national budget expenditures, including those related to the implementation of the investment project for the acquisition of a new type of military aircraft for the Bulgarian air forces, as well as under the EU fund accounts), the staff costs (a 10% increase in the wage bill for the public sector and the next step of increasing the remunerations in the education sector), the higher social and health insurance payments (a baseline effect from the pension increase in July 2018, the pension indexation in July 2019 and an increase in the health insurance payments set out in the 2019 NHIF Budget Law), the increase in expenditures on subsidies, etc.
Non-interest expenditures amount to BGN 36,810.1 million, which is 83.4 % of the annual plans. Non-interest current expenditures as of November 2019 amount to BGN 31,254.3 million, and capital expenditures (including net increment of state reserve) amount to BGN 5,521.7 million . The current and capital transfers to other countries amount to BGN 34.1 million. Interest payments amount to BGN 607.3 million, or 90.7 % of those planned for 2019.
The part of Bulgaria's contribution to the EU budget, paid from the central budget as of 30.11.2019, amounts to BGN 1,135.6 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 CFP budget balance on a cash basis as of November 2019 is positive, amounting to BGN 1,300.8 million (1.1 % of forecast GDP) and is formed by an excess of revenues over expenditures under the national budget of BGN 1,640.6 million and a deficit under EU funds of BGN 339.8 million.
Fiscal reserve as of 30.11.2019 is BGN 10.545 billion, including BGN 10.258 billion fiscal reserve deposits in BNB and banks and BGN 0.287 billion receivables under the EU Funds for certified expenditure, advance payments, etc.
The Consolidated Fiscal Programme performance data as of 30 November 2019 are published on the website of the Ministry of Finance in Statistics section. The statistical data are accompanied by an Information Bulletin on the Execution of the State Budget and the main indicators of the consolidated fiscal programme, which presents a short analysis of the performance of the key budget parameters on a consolidated level and by constituent budgets.