Bulgaria Records Budget Surplus of BGN 63.9 M as of End October

According to monthly data of first-level spending units, the Bulgarian finance ministry reported a budget surplus of BGN 63.9 M as of end October 2015, which represented 0.1 % of the projected GDP .

For comparison, Bulgaria registered a deficit of more than BGN 1.7 B at the end of October 2014, which means that the budget stance as relative share of GDP has improved by 2.2 percentage points.

At the end of October, the revenues and grants were in the excess of BGN 26.5 B, which represented 87.4 % of annual plans under the 2015 state budget.

Compared to the same period last year, revenues and grants increased by 10.5 %, which amounted to more than BGN 2.5 B.

In structural terms, tax revenues increased by 7.5 %, non-tax revenues grew by 5.4 %, while grant proceeds (mainly from EU funds) increased by 48.3 %.

The expenditures at the end of October, including the Bulgarian contribution to the EU budget exceeded BGN 26.4 B, which is 80.6 % of annual plans.

Compared to the same period in 2014, expenditures increased by 2.7 %, amounting to BGN 689.8 M.

In structural terms, there was a growth in capital expenditures, while non-interest current expenditures were close to the figures recorded for the same period last year.

The fiscal reserve as of end October was BGN 10.2 B.