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Based on the first level spending units\' monthly reports on the cash implementation of the budget, year 2010 is closed with a deficit on a cash basis of BGN 2,783.4 million (3.9% of estimated GDP). The country\'s budget position as of the end of 2010 is in line with the fiscal policy target for the year.

Revenues and grants under the 2010 general government stood at BGN 23,931.9 million, or 34,0 % of estimated GDP against 36,5 % of GDP for 2009 . Indirect tax revenues are BGN 9,954.1 million, which is 101.0% of the program for the year. Revenues from direct taxes are BGN 3,384.5 million, or 97.3% of those planned for the year. Revenues from other taxes (including property taxes and other taxes under the Corporate Income Taxation Law) are BGN 706.0 million or 98.0% of the 2010 annual estimate. Revenues from social security and health insurance contributions as of 31.12.2010 are BGN 4,964.3 million or 96.1 % of the annual plan. Non-tax revenues as of 31.12.2010 are BGN 3,320.6 million, or 97.7 % of the annual estimate. The grants received (mainly from the EU Structural Funds and the Cohesion Fund, the pre-accession instruments, the European Agricultural Fund for Rural Development (EAFRD), European Development Fund (EDF), etc.) for 2010 amount to BGN 1,602.5 million (83.0% of those planned for the year).

Tax revenue performance is in line with the updated plans for the year and tax revenues under the executive budget have been implemented 100.2%. Indirect taxes proceeds amount to 101.0% of the annual plan. PID revenues under the consolidated fiscal program have also been implemented 100.2 %. Corporation taxes, property taxes under municipal budgets and social security contributions register underperformance compared to plan. The strategy set forth in the revised fiscal framework for 2010 contributed to off-setting the underperformance of social security contributions by measures to limit expenditure under the NSSI budget. Those measures were implemented mainly through amendment to the Social Security Code that eased the pressure on spending and thus the effect of the slowdown in revenues from social security contributions on the budget balance remained neutral.

The expenditures under the consolidated budget (including the contribution of Republic of Bulgaria to the EU general budget) for 2010 amount to BGN 26,715.4 million, which is 96.1 % of the annual estimate. Non-interest current expenditure amount to BGN 22,011.4 million, interest payments amount to BGN 486.0 million and capital expenditure amount to BGN 3,548.2 million. In nominal terms expenditure under CFP (including the contribution of Republic of Bulgaria to the EU general budget) have increased by 4.1 % compared to 2009. Compared to 2009 social security and health insurance payments (including scholarships) have increased by BGN 917.6 million (1.3% of estimated GDP). This is due mainly to the effect of the pension increase in 2009 (BGN 503.0 million) and to higher expenditure relative to health insurance payments. Compared to 2009 the subsidies as of end of December have risen by BGN 220.3 million, mainly due to the higher amount of subsidies for agriculture, including the national co-financing of direct payments, EAFRD funds, etc. Capital expenditure, interest payments and the wage bill expenditure are lower compared to 2009.

The expenditure under the 2010 consolidated budget on a cash basis amount to 37.9 % of estimated GDP against 37.4% of GDP for 2009. The 0.5 p.p. of GDP increase for 2010 compared to 2009 is due to higher social security and health insurance payments in 2010 (including the effect of the pension increase in 2009), and to the payment of the 2009 arrears, which on a cash basis are reported as expenditure in 2010.

The part of Bulgaria\'s contribution to the EU general budget, paid in 2010 from the central budget, amounted to BGN 669.7 million which is in compliance with the requirements of Council Regulation 1150/2000.

The fiscal reserve as of 31 December 2010 amounted to BGN 6,011.8 million or 8.5% of estimated GDP.

The data on the implementation of the consolidated budget as of 31 December 2010 are published in \"Statistics\" category / Archive 2010 section on the website of the Ministry of Finance. The statistical data are accompanied by an Information bulletin on the execution of the consolidated budget, which presents a short analysis of the performance of the key budget parameters on a consolidated level and by constituent budgets.

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