The Bulgarian Ministry of Finance has said the country’s consolidated fiscal program achieved a positive balance in January, which came to $483 million, nearly 1 percent of the country’s forecast GDP.
 
The surplus is mainly achieved through a overage in the national budget of $432 million. The ministry also recorded a surplus of European Union (EU) funds of $51.3 million.

In January, Bulgaria reported $1.8 billion in revenue, accounting for 9.4 percent of this year's planned revenue estimates. This represented a 6.7 percent growth from January 2016, when the country reported $1.1 billion in revenue.
 
This increase includes a 12.2 percent year-on-year increase in tax revenues, which hit $1.5 billion in January or 10.3 percent of the annual plans. Direct taxes were $154 million, while indirect taxes were $1.06 billion, the latter of which hit 13.8 percent of the annual plans, with VAT revenues hitting 14.5 percent, or $698 million, and excise duty revenues hitting 12.8 percent at $352 million.
 
Revenues from social security and health insurance contributions, areas that account for the largest increases in spending in the country, were $333 million, which is 7.7 percent of the annual plans but a 13 percent year-on-year increase.
 
Expenditures in January hit $1.3 billion, including interest expenditures of $49 million and $39 million for the country’s contribution to the EU budget.