Bulgaria’s fiscal reserve by March 31, 2012 amounts to 2.25 billion euro and the revenues to the state budgets from taxes for the first quarter of the year are 8.2 per cent higher compared to the same period last year, the Finance Ministry reports.

Some 3 billion euro of revenues and assistance has entered the state budget by the end of March. These account for 20 per cent of the funds planned for the entire year and exceed by 8 per cent the figure for the first quarter of last year.

This is due mainly to the growth in VAT revenues, the Finance Ministry reports. More than 750 million euro has entered the state treasury from VAT payments and 425 million euro from excise duty payments.

The expenditure under the consolidated budget along with Bulgaria’s contribution to the common EU budget amount to over 3.25 billion euro.