The budget at the end of March is expected to end with a surplus of BGN 400 million, or 0.2% of the estimated gross domestic product (GDP) of Bulgaria, the Ministry of Finance reports, based on preliminary data.
Revenues, benefits and donations under the consolidated fiscal program (CFP) in the first quarter of this year increased by about 7.5% compared to the same period of 2023 and are expected to be in the amount of BGN 15.8 billion. – an increase of BGN 1.1 billion
The Financial Department reminds that at the end of March, the “Electricity System Security“ (FSES) paid in full all obligations to electricity producers in compliance with a provision of the Energy Law.
The financial department reports a base effect in the part of other taxes mainly in two directions. First, the targeted contributions from electricity producers to the budget of the FSEU decrease in connection with the normalization of electricity prices on the Bulgarian Independent Energy Exchange.
Secondly, the proceeds decrease from the temporary solidarity contribution for Union companies and establishments operating in the crude oil, natural gas, coal and oil refining sectors for the excess profits generated under the European Regulation of 6 October 2022 on emergency intervention to deal with high energy prices.