Consolidated fiscal programme performance data as of 30/11/2015

Based on the monthly reports of first-level spending units, a deficit of BGN 406.4 million (0.5% of the projected GDP) is reported under the Consolidated Fiscal Programme (CFP) as of end-November 2015. It is formed by a national budget deficit of BGN 82.5 million and a deficit of EU funds of BGN 323.9 million. For comparison, the CFP budget balance at end-November 2014 was a deficit of BGN 1,600.7 million (1.9% of GDP), i.e. the budget stance, as a relative share of GDP, has improved by 1.4 percentage points.

 At end-November 2015, tax proceeds, including revenues from social security contributions, total BGN 22,510.2 million, which is 91.0% of the 2015 State Budget of the Republic of Bulgaria Law. All major taxes and social security contributions in the group of tax revenues register a growth in comparison to the same period of the previous year, with this growth being most substantial for the proceeds from social security and health insurance contributions, indirect taxes and others.

Revenues from direct taxes amount to BGN 3,952.8 million, which accounts for 88.7% of the annual plans for 2015. Compared to the same period of the previous year, the revenues in this group have grown by 5.9%, which is mostly due to the proceeds from the personal income tax and from corporate taxes.

Revenues from indirect taxes amount to BGN 11,494.1 million, or 90.1% of the 2015 State Budget of the Republic Bulgaria Law estimates. The VAT proceeds amount to BGN 7,198.7 million, or 89.0% of those planned for the year. Compared to November 2014, VAT revenues have grown by 5.1%. The non-refunded tax credits as of 30.11.2015 amount to BGN 156.2 million. The excise duty revenues amount to BGN 4,125.1 million, or 91.9% of the annual estimates), growing by 10.9% as against November 2014. The customs duty proceeds amount to BGN 143.8 million, or 95.9% of the annual estimates, registering a growth of 3.1% compared to the same period of 2014. Proceeds from other taxes (including property taxes and other taxes under the Corporate Income Tax Law) amount to BGN 795.0 million, or 92.0% of the annual plans, which is a growth by 4.0% compared to November 2014. Revenues from social security and health insurance contributions are BGN 6,268.3 million, or 94.3% of the estimates for the year. Compared to the same period of the previous year, the revenues from social security contributions have risen by 8.2%.

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