Bulgaria Awaiting EU Commission Green Light for State Railways Aid

Business | July 7, 2014, Monday // 17:12|  views

Bulgaria's Transport Minister Danail Papazov. Photo by BGNES

Transport Minister Danail Papazov has said it will take five to seven years to raise the Bulgarian State Railways (BDZ) "back on their feet".

He added the state was waiting for approval from Brussels to grant some BGN 170 M (EUR 85 M) to the cash-stripped railway company, which is still struggling to deliver on its debts accumulated prior to Bulgaria's accession into the EU.

Agreement was expected within a short time, Papazov told the Bulgarian National Radio.

He admitted reforms within the transport sector were a tough challenge.

"It is no secret many of our companies, and the administration as well, need an urgent reform. The problems with BDZ are extremely complicated, they have been piled up for 25 years," the Minister added.

However, he pointed the cabinet's achievements in the fields of e-government and the EU's Transport Operational Program.

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Tags: BDZ, Danail Papazov, EU Commission


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