Bulgaria's Caretaker Govt Slashes BGN 500M Public Investment Program by BGN 150M

Business » FINANCE | August 27, 2014, Wednesday // 18:05
Bulgaria: Bulgaria's Caretaker Govt Slashes BGN 500M Public Investment Program by BGN 150M Bulgaria's caretaker Finance Minister Rumen Porozhanov, photo by BGNES

The budget of the government's public investment program "Growth and Sustainable Regional Development" will be downsized by BGN 150M from BGN 500M, according to caretaker Finance Minister Rumen Porozhanov.

Porozhanov, as cited by the Bulgarian National Radio, reminded Wednesday that a sum of BGN 500M had been earmarked in the 2014 state budget for projects of municipalities and ministries.

He explained, however, that the government's decree on the public investment program had not been implemented.

"By June 10, the previous government should have conducted a review of the implementation of public procurement procedures in order to stop ones which had not been wrapped up by the said date," Porozhanov noted.

He said that the selection of contractors for some of the schemes, including projectors of municipalities and ministries, would not be completed by the deadline of mid-September 2014.

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Tags: caretaker government, Rumen Porozhanov, public procurement

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