Bulgaria's Fiscal Reserve Shrinks to BGN 4 B Jan 2012

Tax revenues and benefits in Bulgaria at the end of January amounted to 7.6% of annual estimates. File photo

Bulgaria's fiscal reserve by January 31, 2012, amounted to BGN 4 B or about BGN 1 B less, compared to January 2011.

The information was released by the press office of the Bulgarian Finance Ministry.

According to government data about the first half of 2011, published at the end of August, as of June 30, 2011, Bulgaria's state fiscal reserve amounted to BGN 5.2 B.

For January 2012, the budget balance in the consolidated fiscal program (CFP) is negative at around BGN 298 M.

It is formed by a deficit from the national budget in the amount of BGN 209 M and from the EU funds in the amount of BGN 89 M.

On annual basis, the budget deficit had shrunk by BGN 179.5 M.

Tax revenues and benefits at the end of January amounted to about BGN 1 634 M or 7.6% of annual estimates.

Non - tax revenues and benefits at the end of January amounted to about BGN 266 M or 3.7% of annual estimates.

Current non-interest State spending from the consolidated budget, amounted to BGN 1 778 M or 7.9% of estimates for the year. Bulgaria's contribution to the EU general budget, paid at the end of January from the central budget amounted to BGN 62 M, in accordance with Regulation 1150/2000 of the Council of the EU.

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