Balgarianovinite.com Bulgaria’s budget deficit stood at EUR 2.201 billion, or 1.8% of projected GDP, at the end of July, the Finance Ministry said on Monday.
The cash-basis deficit under the Consolidated Fiscal Programme (CFP) was in line with preliminary estimates published earlier this month. The balance improved by around EUR 200 million from June, when the deficit stood at EUR 2.4 billion
The fiscal reserve stood at EUR 8.525 billion as of July 31, 2026, including EUR 8.039 billion in deposits held with the Bulgarian National Bank (BNB) and commercial banks and EUR 485.8 million in receivables from European Union funds for certified expenditure, advance payments and other items.
CFP revenues, grants and donations totalled EUR 26.347 billion in the first seven months of 2026, equivalent to 53.1% of the annual estimates. Receipts increased by 11.2%, or EUR 2.644 billion, compared with the same period of 2025.
Tax and social security revenues rose by 9.1%, or EUR 1.753 billion, in nominal terms. Non-tax revenues fell by EUR 443.6 million, mainly because dividend revenue from state-owned enterprises was lower in 2026 following the payment of an interim dividend in 2025. Grants and donations increased by EUR 1.335 billion.
Tax revenues, including social security contributions, amounted to EUR 21.076 billion, or 54.8% of the annual estimates. Taxes and social security contributions accounted for 80% of total CFP receipts during the period.
Non-tax revenues totalled EUR 3.083 billion, equivalent to 53.3% of the annual estimates. They were EUR 443.6 million, or 12.6%, lower than in the same period of 2025. These revenues came mainly from state, municipal and court fees, income from property, concessions, the sale of greenhouse gas emission allowances and other sources.
Grants and donations, consisting mainly of receipts under EU programmes and funds, totalled EUR 2.187 billion. In July, Bulgaria received EUR 896.1 million from the European Commission under its fourth payment request under the National Recovery and Resilience Plan (NRRP).CFP expenditure, including Bulgaria’s contribution to the EU budget, amounted to EUR 28.548 billion in the first seven months of 2026, equivalent to 50.3% of the annual estimates. Expenditure totalled EUR 25.890 billion in the same period of 2025.
The increase was concentrated mainly in social and health insurance payments, including pension expenditure, as well as personnel costs, capital expenditure and other items, the Finance Ministry said.
The Ministry attributed the rise chiefly to higher pension expenditure following indexation under the Swiss rule on July 1, 2025, and July 1, 2026; the minimum wage increase introduced in January 2026; an additional increase in remuneration from January 2026 matching the inflation accumulated in 2025; and significantly higher capital expenditure related to investments and projects under the Municipal Investment Programme and the NRRP.
Non-interest expenditure totalled EUR 27.237 billion, equivalent to 50.2% of the annual estimates and EUR 2.332 billion, or 9.4%, more than in the first seven months of 2025.
Current non-interest expenditure amounted to EUR 24.125 billion, while capital expenditure, including the net increase in the state reserve, totalled EUR 3.093 billion. Current and capital transfers abroad amounted to EUR 18.7 million.
Interest payments totalled EUR 649.7 million, equivalent to 61.3% of the annual allocation and EUR 261.7 million more than in the same period of 2025.
The 2026 State Budget Act, adopted by Parliament on July 24, provides for a general government deficit of 5.7% of GDP and sets the ceiling for new government borrowing in 2026 at EUR 10.1 billion. Government debt may not exceed EUR 37.7 billion, or 30.1% of GDP, at year-end.
In June, the Council of the European Union formally confirmed the European Commission’s recommendation to open an excessive deficit procedure against Bulgaria. It recommended limiting nominal growth in net government expenditure to 4.2% in 2026, with the aim of bringing the deficit below 3% of GDP by 2029, and set October 15, 2026, as the deadline for the country to take effective action and submit corrective measures.
Budget Deficit Narrows to EUR 2.2 Bln at End-July 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-08-31 16:47:42
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БЪЛГАРИЯ НОВИНИТЕ – ИНФОРМАЦИОННА АГЕНЦИЯ 2009-2026 2026-08-31 16:47:42