Bulgaria’s consolidated budget balance came to a surplus of BGN 3.4bn as of end-September’16

Bulgaria’s consolidated budget balance (cash basis) came to a surplus of BGN 3.4bn as of end-September 2016 (3.8% of the GDP*), compared to a surplus of BGN 0.6bn at the end of September’15. The total revenues and grants for the January-September’16 period totalled BGN 25.7bn (77.7% of the planned for the year), up by 6.2% YoY, while the expenditures under the consolidated fiscal programme (including the contribution to the EU budget) were BGN 22.3bn (64.0% of the annual plans), down by 5.3% YoY. On a separate note, the Ministry of Finance announced that it expects the January-October’16 budget balance to remain at a surplus of BGN 3.4bn (3.8% of the GDP), vs a surplus of BGN 63.9m as of end October’15. The revenues and grants are expected to total BGN 28.3bn (85.7% of the planned for the year), up by BGN 1.7bn YoY, while the expenditures (including the contribution to the EU budget) are projected at BGN 24.9bn (71.4% of the annual plans), down by BGN 1.6bn YoY. *2016 expected GDP of BGN 85.7bn