Bulgaria’s Finance Ministry said that the consolidated Budget surplus in the first nine months of 2015 came in at 627 million leva, or 0.7 per cent of the forecast gross domestic product (GDP), an improvement of 2.5 per cent of GDP compared to the same period of last year, when the consolidated Budget showed a deficit of 1.47 billion leva.
Revenues and grants under the Consolidated Fiscal Programme as of September 30 2015 are expected to be 24 141.4 million (79.5 per cent of the annual estimate), registering growth of 12 per cent (2 585 million leva) as compared to the same period of 2014.
The growth as compared to the previous year is mainly due to the higher tax and non-tax revenues as well as to the higher receipts in terms of grants (funds reimbursed by the European Commission) which increased by 1 644.7 million leva and 940.3 million leva, respectively.
On the basis of operational data and assessments the expenditures under the Consolidated Fiscal Programme (including Bulgaria’s contribution to the EU budget) as of September 2015 amount to BGN 23 514.4 million leva, which is 71.6 per cent of the annual plans. The expenditures for the same period of the previous year are to the amount of 23 035.3 million leva.
The part of Bulgaria’s contribution to the EU budget, paid as of end-September 2015 from the central budget, amounts to 624.5 million leva, which complies with the current EU legislation.
(Photo: Alessandro Paiva)