BGN 972 million is the deficit in the state treasury at the end of July. This was announced by the Ministry of Finance. That's about half a percent of gross domestic product. There are about BGN 11 billion in the fiscal reserve as of July 31, 2024, including over BGN 9 billion in deposits of the fiscal reserve in the BNB and banks and BGN 1.9 billion in receivables from the European Union funds for certified expenses, advances and others.
Revenues, aid and donations under the consolidated fiscal program as of July 2024 are in the amount of over BGN 40 billion or 54% of the annual estimates. Revenues increased by over BGN 3.3 billion (by 8.9%) compared to those reported as of July 2023. Compared to the same period of 2023, tax revenues increased nominally by over BGN 3.5 billion (an increase of 12 .2%), and non-tax revenues decreased by BGN 1 billion (down by 14.7%).
CFP expenses (including the contribution of the Republic of Bulgaria to the EU budget) as of July 2024 amount to BGN 41 billion, which is 51.3% of the annual estimates.
In the individual cost indicators, there is an increase mainly in social costs, as a result of the higher pensions paid after the increases that came into force in July 2023 and July 2024, as well as in personnel costs, after the increase in the remuneration of the pedagogics staff and at other administrations.
Meanwhile, at the end of July 2024, the profit of Bulgarian banks increased by BGN 115 million and reached BGN 2.1 billion. This is 5.7% more compared to the first 7 months of 2023.
From the data of the Bulgarian National Bank, it is clear that the accrued expenses for impairment of financial assets, which are not reported at fair value in profit or loss, increased by BGN 94 million