In brief
The Bulgarian government announced a September 2026 budget deficit of €3.669 billion, up from €3.075 billion in August, representing 2.8% of projected GDP. Revenues rose 10.9% year‑on‑year, mainly from higher tax collections and EU grants, while the fiscal reserve stayed at €8.478 billion. Expenditures hit €37.567 billion, a rise driven largely by social security payments.
At the end of September 2026, Bulgaria’s finance ministry announced a budget deficit of €3.669 billion, or 2.8% of projected gross domestic product. The deficit widened from August’s €3.075 billion, or 2.4% of GDP, by about €590 million.
In the same month, Bulgaria’s fiscal reserve stood at €8.478 billion, including €6.565 billion held in the Bulgarian National Bank and other banks and €1.912 billion of receivables under EU funds for certified expenditures.
Revenues, grants and donations reached €33.898.5 million, 68.3% of the annual estimates. Total proceeds grew 10.9% – €3.344 million more – compared with September 2025, thanks to a 9.9% rise in tax and social security receipts of €2.451 million and a €1.502 million gain in grants and donations.
Tax proceeds, including social security contributions, totaled €27.201 million, amounting to 70.8% of the yearly estimate. Non‑tax revenues were €4.051 million, 70% of the annual target but down €609.3 million from September 2025, largely because of lower dividend income from state‑owned enterprises.
Expenditures in September 2026 were €37.567 million, or 66.1% of the anticipated annual spend, up from €33.650.3 million in the same period a year earlier. The increase is driven mainly by higher payments for social security and pensions.
Overall, the finance ministry indicated that while revenue growth offsets some of the pressure on the budget, the continued rise in social security spending keeps the deficit expanding. The fiscal reserve remains sizable, providing a buffer for the next fiscal period.
