Sofia Municipality's Debts Decline to BGN 30 M

The total debts of the largest Bulgarian municipality – the capital Sofia – have declined to BGN 30 M, Deputy Sofia Mayor Doncho Barbalov announced.

Barbalov, who is in charge of the finances of the Bulgarian capital, spoke Wednesday as he presented Sofia's draft budget for 2012.

Data of the National Association of Municipalities of the Republic of Bulgaria cited by Dnevnik indicated earlier that in June, Sofia's debts totaled BGN 45 M, and in September – BGN 37 M.

Thus, Sofia has been the most indebted municipality out of all 264 municipal administrations in Bulgaria.

"Today we made a payment of BGN 2.5 M. This sum was due but was not late," Barbalov explained.

He promised that in 2012 Sofia Municipality, whose Mayor Yordanka Fandakova, a protege of Bulgarian Prime Minister Boyko Borisov, got reelected in the fall of 2011, will pay off all of its debts.

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