Bulgarian Parliament adopts 2013 State Budget Act of the Republic of Bulgaria

06 December 2012

The total of the subsidies allocated for the municipalities' activities, delegated by the state, amounts to BGN 1,941,743,600. The sum is BGN 20 million more than in the original version of the draft budget bill.

The Finance Ministry explains that the 2013 budget has three main accents – continues the policy of fiscal consolidation with the view to ensure the macro-economic and financial stability of the country; directs expenditures towards sectors generating economic growth; makes effort to overcome poverty and protect the most vulnerable strata of the population.

The priorities consist of tackling the most important economic and social challenges of the country and of setting economic conditions that will stimulate economic growth and employment. The tax policy for 2013 preserves the same rate of direct taxation aiming at encouraging and increasing direct foreign investments and at decreasing the share of the grey economy.

Full article

© National Assembly of the Republic of Bulgaria