Bulgaria's Science Expenditure Gets Boost in 2017 Budget

Business » FINANCE | November 30, 2016, Wednesday // 14:21| Views: | Comments: 0
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Bulgaria: Bulgaria's Science Expenditure Gets Boost in 2017 Budget

Some BGN 10 M more will be allocated to the Bulgarian Academy of Science next year compared to this one, members of Parliament's budget commission have agreed.

The figure will be a substantial increase of the BGN 80.84 expenditure that was granted this year.

Additionally, the Sofia University St Kliment Ohridski will receive BGN 0.5 M more than in 2016, under the current proposal that is to be put to a vote by Parliament's floor.

Spending on science is one of the few areas undergoing substantial changes since the first draft was put forward by the Finance Ministry in October.

Tax revenues are projected at BGN 28 B for 2017 (up by 2.4 B compared to the projection for 2016).

Overall revenues are set at BGN 35.4 B, while expenditure is projected at BGN 36.7 B.

The budget deficit, as written in the draft, is set at BGN 1.3 B, or 1.4% of the national output.

Some BGN 6.2 B will be earmarked for various state investment projects.

State subsidies allocated to parties will be retained at BGN 11 per vote received in parliamentary elections. However, how long the arrangement will last is unclear.

Parliament is yet to vote on a proposal to curb the subsidies to BGN 1 per vote or less, in line with the results of a recent referendum. The biggest parties, previously supporting the change, have not yet introduced a formal proposal.

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