The Ministry of Finance published current data on Bulgaria's budget status, revealing significant changes in economic indicators by mid-2025. The budget deficit has grown by an impressive 750 million leva in just one month, reaching a total of 3,353 billion leva on a cash basis.
A detailed analysis of the Consolidated Fiscal Program (CFP) reveals a complex picture of financial flows. The negative budget balance is formed by two main components: a deficit in the national budget of 2,317 billion leva and a deficit in European funds of 1,036 billion leva.
For comparison, during the same period of the previous year, the deficit was significantly lower - only 636 million leva. The structure at that time included a national budget deficit of 1,370 billion leva and an unexpected surplus of 734.7 million leva in European funds.
A significant difference is observed in the absorption of European funds. While in 2024 there was a delay in spending funds under the National Recovery Plan, in 2025 the process is proceeding differently.
The State Budget Act for 2025 initially sets a deficit of 6.4 billion leva, which represents 3 percent of the projected gross domestic product. Currently, the fiscal reserve amounts to 13,160 billion leva, distributed between 12,458 billion leva in deposits and 702.6 million leva in receivables from European funds.
The revenue part of the budget shows a significant increase. Total CFP receipts by June reached 39,021 billion leva, which represents 43.2 percent of annual estimates. Compared to last year, the increase is an impressive 4,526 billion leva or 13.1 percent.
Tax revenues are a key driver of this growth, increasing by 17.1 percent or 4,663 billion leva. Non-tax receipts also showed an increase of 9.2 percent, amounting to 485.5 million leva.
The expenditure part of the budget as of June 2025 amounts to 42,375 billion leva, which constitutes 43.8 percent of annual estimates. For comparison, during the same period in 2024, expenses were 35,091 billion leva.
Experts from the Ministry of Finance expect the effects of measures to increase revenue collection to manifest in the second half of the year. The main focus is on social payments, personnel expenses, and capital investments.
Interest payments currently stand at 711.3 million leva, which represents 43.8 percent of the annual plan. The increase compared to last year is 214.0 million leva, mainly due to the schedule for servicing the state debt.