Late Payments by Bulgaria's Govt at BGN 146 M

Deputy Finance Minister Vladislav Goranov announced Tuesday that late payments by the government amounted to BGN 146 M by end-June. Photo by Sofia Photo Agency

Late payments by the government amounted to BGN 146 M by end-June, according to reports of Bulgaria's Finance Ministry.

The Defense Ministry, which owes around BGN 80 M, and the Interior Ministry, which owes around BGN 23 M, have run up the biggest debts.

"The Defense Ministry has topped the ranking for a few years due to the huge debts of the Military Medical Academy in Sofia, accompanied by the Interior Ministry with a little over BGN 20 M in late payments for the first six months of 2012," Deputy Finance Minister Vladislav Goranov said at a press conference Tuesday, as cited by the Focus news agency.

He made clear that the government had reduced late payments to the business sector several-fold.

Goranov noted that ministries had received around BGN 30 M in end-2011 to settle debts to municipalities.

Bulgaria's Deputy Finance Minister specified that the step had practically cleared over 90% of the debts of local taxes and fees.

"The sum that remains is quite insignificant. It will hardly be a burden for municipalities and is quite unlikely to affect their overall financial condition," Goranov added.

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