Bulgarian Municipalities' Debt Reached BGN 200 M Last Year

The debt piled up by Bulgarian municipalities has peaked to BGN 200 M over the course of 2016, according to preliminary estimates.

The financial situation of many municipalities will push some to increase fees for certain services, Emil Savov, deputy CEO at an organization representing the 265 municipalities, has told the Bulgarian National Radio.

Local taxes, however, are expected to remain intact in most of the municipalities, Savov has made clear.

Prolonged debts are to a certain extent caused by even bigger amounts of prolonged receivables, he has added.

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