site.btaFinance Ministry Reports Positive January Budget Balance under Consolidated Fiscal Programme

The budget balance under the consolidated fiscal programme (CFP) for January was positive, amounting to EUR 212.1 million, or 0.2% of the country’s projected GDP, according to data published by the Ministry of Finance on the implementation of the CFP as of the end of the first month of 2026.

Revenues increase by 11.4% year-on-year

Revenues, grants and donations under the Programme for the reporting period totaled EUR 3.607 billion. Receipts increased by 11.4%, or EUR 368.4 million, compared with January 2025. Compared with the same period last year, tax and social security revenues rose nominally by 11.3%, or EUR 302 million; non-tax revenues decreased by 2.5%, or EUR 9.5 million; while proceeds from grants and donations were higher by EUR 75.9 million.

Tax revenues (including social security contributions) amounted to EUR 2.977 billion and accounted for 82.5% of total CFP revenues for the period.

Non-tax revenues amounted to EUR 362.7 million. They were mainly generated from state, municipal and court fees, income and proceeds from property, concession revenues, revenues from the sale of greenhouse gas emission allowances, and others.

Revenues from grants and donations, mainly under EU programmes and funds, amount to EUR 266.9 million.

Expenditures increase by 15.1%

Expenditures under the CFP, including Bulgaria’s contribution to the EU budget, amounted to EUR 3.395 billion, compared with EUR 2.95 billion a year earlier. This represents an increase of EUR 444.6 million, or 15.1% year-on-year. The growth was mainly in social and health insurance payments, including pension spending, as well as in personnel costs, capital expenditures and others.

Non-interest expenditures amounted to EUR 3.192 billion, an increase of EUR 398 million (14.2%) compared with January 2025.

Current non-interest expenditures amounted to EUR 3.011 billion. Capital expenditures (including the net increase in the state reserve) totaled EUR 174.2 million. Current and capital transfers abroad amounted to EUR 6.9 million.

Interest payments amounted to EUR 101.3 million, an increase of EUR 24.7 million compared with the same period of 2025.

Fiscal reserve exceeds EUR 8.2 billion

As of January 31, 2026, the fiscal reserve amounted to EUR 8.241 billion, including EUR 7.145 billion in fiscal reserve deposits with the Bulgarian National Bank and commercial banks, and EUR 1.096 billion in receivables from European Union funds for certified expenditures, advances and others.