FINANCIAL AID FOR MUNICIPALITIES IN SEPTEMBER

Politics | August 18, 2001, Saturday // 00:00

Minister of Finance Milen Velchev approved a mechanism for extending financial aid to municipalities in 2001. The mechanism is based on the active legislation and the current capacity of the budget. It also envisages extending part of the general subsidy for year 2001 in advance (some BGN 25 M). The general subsidy drawn in advance will be extended to municipalities in September on order to support payment of additional bonuses for municipal staff working in the education system, for payment of social aids and partly for settling debts for electricity. This mechanism will allow correcting misbalances in the budgets of 81 municipalities, which will be extended additional BGN 10.5 M.

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