Bulgarian PM Makes Final Call on Sacking Methane Hike

Business » ENERGY | October 17, 2011, Monday // 14:39
Bulgarian PM Makes Final Call on Sacking Methane Hike: Bulgarian PM Makes Final Call on Sacking Methane Hike Price of methane would not go up in Bulgaria after Prime Minister, Boyko Borisov, decided to put the planned excise on hold. File photo

There will be definitely no excise duty on methane in Bulgaria over the fact it would lead to a price hike of many other services which the country cannot afford in times of economic crisis.

The final decision of the cabinet was announced Monday for the media by Prime Minister, Boyko Borisov.

Borisov stated that the excise idea of his Deputy and Finance Minister, Simeon Djankov, was a good one, but cannot be currently realized over the crisis.

"This is why I have told all my ministers that when they think out loud this leads to horrible political conclusions," the PM said, adding he was ultimately responsible for the rule of the country and taxing everything would lead to a stronger budget, but also to impoverishment of Bulgarians.

Borisov confirmed the budget will be debated after the October 23 presidential and local elections and the possible runoff.

The plans were for the methane price to go up on January 1 over the introduction of the excise duty. The first estimates showed this increase will amount to BGN 0.7 per kilogram, which would lead to the increase of heating prices in the upcoming winter.

Djankov also said earlier Monday, just days before debates on the budget that the decision on methane excise has not been finalized and if "this is not the right moment, the excise could be delayed."

Borisov and Agriculture Minister, Miroslav Naydenov, cut the ribbon of the repaired water-main network in the village of Gabra, the municipality of Elin Pelin, near the capital Sofia. The BGN 5 M funding was provided through EU financing.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: Finance Ministry, methane, excise, finance minister, Simeon Djankov, Prime Minister, Boyko Borisov

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria