Bulgaria's Finance Minister Forecasts Rising Tax Revenue

Bulgaria's Finance Minister Djankov believes state revenue from taxes is going to go up after March. Photo by BGNES

The Bulgarian state will see its tax revenue rise starting in March, according to the forecast of Finance Minister Simeon Djankov.

Djankov has explained that in November 2009-February 2010 the Bulgarian economy hit rock bottom, which led to a drop in tax revenue, the Pari Daily reported.

However, the Finance Minister has argued that the government has been successful in fighting illegal business.

To prove his point, he said that in 2009 the total revenue raised from cigarette excise tax was BGN 1,77 B, a 3,1% rise year-on-year, while the actual consumption of cigarettes declined by 14%.

Djankov has announced that the government was involved in talks with the World Bank in order to get funding for the purchase of new technical equipment for intercepting contraband goods.

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