The preliminary Consolidated Fiscal Programme performance data as of 31.07.2020 are published
Based on the preliminary data and estimates, as of end-July 2020, an excess of revenues over expenditures under the Consolidated Fiscal Programme (CFP) is expected to the amount to BGN 1,726.1 million (1.5% of the projected GDP).
Key CFP parameters based on preliminary data and estimates:
As of July 2020, CFP revenues, grants and donations are expected to be BGN 25,233.1 million, or 56.8% of the revised annual estimates. Compared to the same period of 2019, tax and non-tax revenues under the Consolidated Fiscal Programme as of July 2020 have shrunk by BGN 1 122.0 million, while grant proceeds have risen by BGN 375.2 million. The delay in the revenues is due to the negative implications for all the major types of taxes from the limitations in response to tackling the COVID-19 outbreak in Bulgaria and worldwide.
As of July 2020, the Consolidated Fiscal Programme expenditures, including the contribution of the Republic of Bulgaria to the EU budget, amount to BGN 23,507.0 million, which accounts for 49.1% of the revised annual estimates. For comparison, the CFP expenditures as of July 2019 amount to BGN 22,756.3 million. In comparison to the previous year, a nominal increase is mostly reported for social and health insurance payments, staff costs, etc.
The part of Bulgaria’s contribution to the EU budget, as paid from the central budget as of 31.07.2020, amounts to BGN 755.3 million, which complies with the existing legislation in the area of EU own resources, i.e. 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) 2016/804 of 17 May 2016.
The statistical data and the Information Bulletin on the Execution of the State Budget and the key Consolidated Fiscal Programme indicators based on the monthly data on cash execution of first-level spending units as of July 2020 will be published on the website of the Ministry of Finance at the end of August 2020.