Bulgaria Regional Ministry Vows Debt Repayment by May

Business | March 5, 2010, Friday // 10:52|  views

Bulgaria’s Regional Minister, Rosen Plevneliev, says that repaying the business is a priority of the State, but the situation is aggravated by the economic crisis. Photo by BGNES

Bulgaria’s Minister of Regional Development and Public Works, Rosen Plevneliev, promised that all overdue payments to businesses will be made be the end of May.

Plevneliev spoke in an interview Friday morning admitting the payments will not be made by the end of March as previously agreed with the Construction Chamber, the main reason being the difficult situation the State is facing over the economic crisis.

The Minister pointed out that repaying the business is a priority of the State.

The State owes about BGN 600 M in Value Added Tax (VAT) to businesses, according to official information of the Finance Ministry. The information, published Thursday, further points out, that the Ministry will make everything possible to submit 50% of the payments, according to budget, by the end of March.

The private business estimates the government debt at anywhere between BGN 1 and 2 B.

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Tags: Simeon Djankov, finance minister, state debt, debts, VAT, Rosen Plevnediev


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