Based on the monthly data, the Consolidated Financial Program (CFP) budget balance on a bar basis from March 2021 is negative and amounts to BGN 619.4 million, or 0.5% of the forecast GDP and is formed by a national budget deficit of 582.3 million BGN and an EU funding deficit of 37.1 million BGN.
CFP Income, grants and donations from March 2021 will amount to 11,348.1 million BGN, or 23.8% of the annual estimates. Compared to the same period of the previous year, in which household income was not yet negatively affected by the COVID-19 outbreak in Bulgaria, income increased by 370.8 million BGN from March 2021. or by 3.4%. Tax and non-tax revenues grew by BGN 501.6 million (4.9%), while income from grants and donations (mainly EU program and fund grants) rose by BGN 130.8 million or by around BGN 130.8 million compared to the end of March 2020 Reduce by 15.7%.
CFP VAT Proceeds, including total income from social security contributions BGN 8,830.3 million, which account for 23.8% of planned tax revenue for the year. Income from tax and social security contributions increased by BGN 249.6 million (2.9%) compared to the income reported in the first quarter of the previous year and accounted for 77.8% of the total CFP income for the reporting period. Tax revenue is affected by the legislative changes made to the deadlines for filing the 2020 annual tax return under the Corporate Income Tax Act, as well as for the payment of corporation tax, expenditure tax and household business income tax. and the tax on ship operations (from March 31 to June 30, 2021). Given the swift action taken when the pandemic broke out, the deadline for corporate tax law has also been extended in 2020. However, some of the taxpayers had already filed their tax return for 2019 and in the statutory deadline before the extension, i.e. H. on March 31, 2020, an offsetting corporation tax paid.
The direct tax revenue amounts to BGN 1,263.2 million or 18.1% of the revenue planned for the year. The indirect tax revenue amounts to BGN 4,402.7 million (25.8% of the annual estimates), the VAT revenue to BGN 3,126.8 million (27.9% of the planned), the excise tax revenue to BGN 1,205.7 million ( 21.6% of the estimates) and customs revenue of 58.4 million BGN (24.9% compared to the annual estimates). The proceeds from other taxes, including property and other taxes under the Corporate Income Tax Act, amount to BGN 336.5 million or 26.2% of the annual estimates. The income from social security and health insurance contributions amounts to BGN 2,827.8 million, which corresponds to 24.2% of the estimates for the year.
CFP not taxablerevenues be BGN1,814.1 million, or 27.5% of annual estimates while Grant and donation The proceeds are BGN 703.7 million.
CFP Expenditure, including the contribution of the Republic of Bulgaria to the EU budget for March 2021 amount to 11,967.5 million BGN, This corresponds to 22.8% of the annual estimates. For comparison: CFP expenditure as of March 2020 amounted to BGN 9,550.9 million. The significant year-on-year spending growth in the first quarter of 2021 is related, on the one hand, to the lower base in 2020 when insignificant spending on combating COVID-19 was reported, while in the first quarter of 2021 this is significant, and, on the other, to income – and social policy established in the approved Law on the State Budget 2021 of the Republic of Bulgaria.
Measures to combat COVID-19 and cope with the social and economic impact of the pandemic are a major contributor to the growing spending in the first quarter of 2021. Payments under the 60/40 measure, 80/20 measure and Keep Me measure, sales support to SMEs affected by the temporary measure to combat epidemic measures implemented by the NRA, etc., have among the growing Subsidy costs for non-financial companies contributed. For pension expenses, BGN 314.2 million was spent on a monthly supplement of BGN 50 for the pensions of all pensioners from January to March. At the same time, pension expenditure will also be influenced by the increase in the amount of the minimum old-age pension and the maximum pension since the beginning of the year and by the base effect of the pension increase in July 2020 Increase in expenditure on health insurance in connection with higher expenditure on combating the pandemic and provisions for the financing of health facilities In connection with the epidemic emergency, including expenses for medication, tests, protective equipment and expenses to support front personnel in the fight against COVID-19 (additional monthly remuneration of BGN 1,000), payment to medical staff for vaccinating the population against COVID-19, monthly Allowance of BGN 600 for doctors, BGN 360 for nurses and midwives and BGN 120 for hospital employees, etc. Capital and maintenance The expenses also increased compared to the same period of the previous year, which is due to payments in connection with investment projects uring is the Bulgarian army, repair work on road infrastructure sites, winter maintenance of the republican road network, etc.
Non-interest expenses be 11,169.5 million BGNwhich is 22.3% of the annual estimates. The non-interest-related current expenses amounted to BGN 10,349.4 million from March 2021, while capital expenditures (including the net increase in the state reserve) amounted to BGN 813.6 million. Current and capital transfers to other countries amount to BGN 6.5 million. Interest payments be 318.8 million BGN, or 48.5% of that planned for 2021.
The part of the Bulgarian contribution to the EU budget, as paid from the central budget as of March 31, 2021 is 479.3 million BGNwhich corresponds to the existing legislation in the area of EU own resources.
The Tax reserve As of March 31, 2021 7.9 billion BGNincluding BGN 7.8 billion in reserves for tax reserves at the NBB and banks and BGN 0.1 billion in claims from the EU funds for certified expenses, advance payments, etc.
The dates of implementation of the consolidated financial program as of March 31, 2021 will be published on the website of the Ministry of Finance in the Statistics section. The statistics are accompanied by an information bulletin on the implementation of the state budget and the main indicators of the consolidated budget program, which is a brief analysis of the performance of the main budget parameters at the consolidated level and by sub-budget.
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Ministry of Finance of the Republic of Bulgaria posted this content on April 29, 2021 and is solely responsible for the information contained therein. Distributed by the public, unedited and unchanged, on April 30, 2021 21:38:02 UTC.