Bulgarian FinMin to Give an Account for First 6 Months in Office

Finance | December 20, 2013, Friday // 09:10|  views

Bulgarian Minister of Finance Petar Chobanov. Photo by BGNES

Bulgarian Finance Minister Petar Chobanov will present Friday an account for the work of his office for the first 6 months of its mandate.

Since coming into office end of May, the Financial Ministry has prepared two state budgets – Budget 2014, as well and the revision of Budget 2013.

A the proposal of the ministry, Bularian lawmakers issued a new external debt for the amount of BGN 600 M. Both the revised state budget and Budget 2014 envision a state debt of up to BGN 18 B.

For the first time, the state budget for 2014 was put to the vote during five consecutive legislative sessions.

Budget 2014 stipulates that the minimum salary in the country will be increased to BGN 340 as of January 1, 2014.

A total of BGN 19.262 B will be spent on income, grants and donations. The stipulated spending amount to BGN 9.899 B. Budget transfers come up to BGN 9.794 B net worth.

The contribution to the EU budget for next year will be BGN 904.6 M.

The new Growth and Sustainable Development of Regions Public Investment Program will receive the largest amount of funding – BGN 500 M.

The structural measures and educational development programs will receive up to BGN 100 M. Those include BGN 22 M raise of the state university subsidy. It will be calculated based on a complex assessment of the quality of education and will be bound to the labor market demands.

Innovation development programs will be funded with some BGN 20 M. Another BGN 20 M will be channeled into the Armed Forces' combat trainings.

A total of BGN 150 M is stipulated in the state budget 2014 for investments and programs in the energy sector.

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Tags: Petar Chobanov, budget, spending, Ministry of Finance, debt


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