Budget revenues as of late September hit BGN 9 851,3 mln, t.e. almost 80.2% of the projected for 2006. This is a rise of over BGN 1 129,7 or 14% on the same period in 2005. The fiscal reserve as of 30 September 2006 was BGN 6 014,3 mln, while the budget surplus was BGN 2 042,4 mln.
Minister of Finance Plamen Oresharski reported that the country?s accession to the European Union is the beginning of a new stage of development, in which the economic integration of Bulgaria is the biggest challenge. To this end, a major goal in the years ahead remains the maintenance of macroeconomic stability and the establishment of prerequisites for accelerated economic growth.
The EU membership will offer new opportunities for further structural reforms and improved competitiveness but will also bring challenges related to the absorption of EU Funds in all priority directions. Thus a safe fiscal policy, coupled with expenditure restructuring and rechannelling into areas high on the country?s agenda, is of great importance.
Tax revenues for January ? September 2006 are BGN 8 353,8 mln, which is 16,69% up compared to September 2005. Indirect tax revenues amounted to BGN 6 163,8 mln. The main factor that still exerts a strong impact on the high performance of indirect taxes is the rises in import. According to preliminary data of the National Statistics Institute, as of the end of August import is up by 27,2% as compared to 2005.
Collected direct taxes reached BGN 2 190,0 mln, which reveals a fulfillment of 95,8% of the this year?s projections. Non-tax revenues reached BGN 1 497,5 mln or 96,4 % of the estimates for 2006.
Expenditure under the republican budget as of the end of September 2006 amounted to BGN 7 808,9 mln. Non-interest expenses under the national budget are BGN 4 014,7 mln. Interest payments under the state budget amounted to BGN 568,9 mln. They decreased with BGN 46,6 mln if compared to the same period in 2005.
The amount of transfers under the state budget was BGN 3 225,4 mln. Municipalities received BGN 1 359,4 mln.
The National Social Security Funds were allocated BGN 1 272,9 mln. The judiciary received BGN 173,1 mln, which is a rise of 30,9 % as compared to September 2005.
