Bulgaria Reports Q1 Budget Deficit
Bulgaria’s revenues under the Consolidated Fiscal Programme reached BGN 16.83 billion in the first quarter of 2025, or 18.6% of the annual target, the Finance Ministry reported. This marks a year-on-year increase of BGN 1.08 billion (6.8%), largely driven by a 13.3% rise in tax revenues, which totaled BGN 13.63 billion and made up over 80% of total income, CE Report quotes BTA
Non-tax revenues remained steady at BGN 2.46 billion, while aid and donations declined slightly to BGN 749.9 million.
Total expenditures for the period were BGN 18.76 billion (19.4% of the yearly plan), resulting in a budget deficit of BGN 1.93 billion, or 0.9% of projected GDP. Additionally, Bulgaria recorded a BGN 449.1 million deficit in its EU funding accounts, in contrast to a surplus a year earlier, due to increased EU-funded spending and the absence of one-off reimbursements received in March 2024.
As of March 31, 2025, Bulgaria’s fiscal reserve stood at BGN 8.99 billion.
