Bulgarian Cabinet to Reduce State Firms' Contribution to Budget

Finance | June 8, 2013, Saturday // 15:53|  views

Bulgaria's PM Plamen Oresharski. Photo by BGNES

The dividend due from state companies to Bulgaria's budget will be reduced from the current rate of 80%, announced Bulgarian PM Plamen Oresharski.

"This high rate borders on a mechanism for decapitalization of those companies," said Oreshrski in an interview for Darik Radio Saturday.

The PM however chose not to specify the exact reduction that his cabinet is planning.

The rate was increased from 50% to 80% by Bulgaria's former cabinet, formed by center-right GERB party, a move which received criticism from the opposition as hampering the activities of state firms.

In the interview, Oresharski also stated that he has no intentions whatsoever to change VAT rates in Bulgaria.

He further said that structural reforms are in store for Bulgaria's National Revenue Agency and Customs Agency.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Tags: Plamen Oresharski, State companies, dividend, budget, VAT, National Revenue Agency, Customs Agency, GERB


» Related Articles: