By the end of May 2026, Bulgaria’s budget balance under the consolidated fiscal program is projected to show a deficit of around 2.5 billion euros, equivalent to roughly 2 percent of GDP, according to preliminary estimates from the Ministry of Finance. This marks a clear deterioration compared to the same period in 2025, when the deficit stood at about 1.3 billion euros, or 1.1 percent of GDP.
The Finance Ministry emphasized that the figures are based on early calculations and will be officially confirmed in the full monthly report at the end of June. The data reflect both revenue growth and significantly higher expenditure levels across key public sectors.
Total revenues, grants, and donations under the consolidated fiscal program for the first five months of 2026 are estimated at 17.3 billion euros. This represents an increase of approximately 1.2 billion euros, or 7.6 percent, compared to the same period in 2025.
Tax revenues account for the largest share of the increase, rising by around 1.4 billion euros, or 11.1 percent year-on-year. Additional growth is also recorded in grants and donations, which are up by about 0.4 billion euros. However, this upward trend is partially offset by a decline in non-tax revenues, which fall by approximately 0.6 billion euros, largely due to changes in the timing of contributions from the Bulgarian National Bank surplus and reduced dividend payments from state-owned enterprises following a one-off distribution in 2025.
