European Commission Approves Bulgaria's Measures in Support to BDZ

Business » FINANCE | June 16, 2017, Friday // 17:35| Views: | Comments: 0
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Bulgaria: European Commission Approves Bulgaria's Measures in Support to BDZ pixabay.com

The European Commission has approved Bulgaria’s measures in support to BDZ. Brussels found that the measures do not violate EU rules on state support, according to a statement from EC.

The measures will allow the company to reduce its debt without undue distortion of competition in the single market. Transport Minister Ivaylo Moskovski said this is very good news for the Bulgarian railways.

The state will forgive BGN 224 million in debt, which is in line with 2008 guidelines on state support to railway companies, as the debt emerged before Bulgaria’s integration into the EU.

EC also emphasises that BDZ is the sole railway passenger transport company in Bulgaria and its activity is crucial for connectivity and economy.

 

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Tags: Brussels, BDZ, European Commission, railways
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