EXPENDITURES FOR MINISTRIES IN BUDGET 2003 DOWN 20%

Politics | July 25, 2002, Thursday // 00:00

The expenditures for maintenance of the ministries will go down by 20% in the next year, the Cabinet decided during the discussions of budget 2003. The decrease in the earmarked sums will not lead to lay-offs at the departments, Finance Minister Velchev said. The expenses have been fixed on the bases of the number of employees currently and the increase in the average wage of 9%. The GDP growth will be 4% in comparison with last year, provided inflation is 4,5%. The calculations have been done on an exchange rate of BGN 2,20 for one dollar. The sums earmarked for financial decentralization will be increased by BGN 100 M. The governmental budget has to be adopted till October 10.
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