Bulgaria's Budget 2014 Aims at Efficient Public Spending

Finance | October 28, 2013, Monday // 12:33|  views

Bulgaria's Finance Minister, Peter Tchobanov, photo BGNES

The emphasis in measures to stimulate economic growth in Bulgaria's State Budget 2014 is placed on increasing efficiency of public spending and improving the quality of public services.

Other stimuli include proposals in tax legislation to reduce administrative burdens and improving the functioning of the single account, Bulgaria's Finance Minister, Peter Tchobanov, says in an interview with "Standard" daily.

"We should not only look at the budget as a tool for economic growth, but as an overall attitude of the government through its program," Tchobanov explains, adding that providing a better environment will stimulate the business to restart thinking about investments.

He stresses the philosophy of Budget 2014 was to terminate the practice to provide each year an additional resource to any agency and institution without having clear results of this allocation.

"So we decided to reduce the so-called administrative budgets of the ministries, but to leave the opportunity for them to budget, on competitive basis, projects oriented towards concrete results using these appropriations," said the Minister.

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Tags: Budget 2014, efficiency, public spending, public services, finance minister, Peter Tchobanov, tax legislation, administrative burdens


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