As of June 30, Bulgaria's fiscal reserve is BGN 5.1 bn
As of June 30, Bulgaria's fiscal reserve stood at BGN 5.1 bn, data from the Ministry of Finance showed. The budgetary account balance under the consolidated fiscal programme (CFP) shows a surplus of BGN 62.4 mln for the first half of 2012, compared to a deficit of BGN 649.7 mln for the same period last year. The figure for the year to date is a result of a BGN 467.7 mln national budget surplus and a BGN 405.3 mln EU funds deficit. On a cash basis, the budget balance has improved by 1% of GDP year-on-year, or BGN 712.1 mln. Revenues and grants under CFP for the first six months of 2012 amounted to BGN 13.224 bn, or 46% of planned receivables under the 2012 State Budget of the Republic of Bulgaria Act. Compared to revenues for the January-June period of 2011, this year's proceeds under CFP have risen 9.8% in nominal terms, equivalent to BGN 1.183 bn, due to increased receipts from indirect taxes, non-tax revenues and grants. As of June 30, Bulgaria has committed BGN 466.6 mln from the state coffers to the EU budget in accordance with Regulation № 1150/2000 of the EU Council.
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