Fight against Smuggling Has Fetched Revenues of over BGN 2 B - Bulgaria’s PM

Business » FINANCE | July 27, 2015, Monday // 09:56| Views: | Comments: 0
Bulgaria: Fight against Smuggling Has Fetched Revenues of over BGN 2 B - Bulgaria’s PM Bulgaria's Prime Minister Boyko Borisov, photo by BGNES

Bulgaria’s Prime Minister Boyko Borisov has claimed that anti-smuggling measures have generated over BGN 2 B in budget revenue since the beginning of 2015.

Speaking at the opening of a wastewater treatment plant in the southern town of Rakovski on Sunday, Borisov informed that the proceeds generated by anti-smuggling activities went to the construction of EU-funded wastewater treatment plants.

Bulgaria’s Prime Minister made clear that the wastewater treatment facility had absorbed nearly BGN 58 M.

Borisov, as cited by the Focus news agency, said that the trust between EU institutions and Bulgarian agencies and ministries was gradually deepening.

He predicted that Bulgaria would achieve an EU funds absorption rate of over 93-94% by end-2015.

Borisov noted that the receipts from the fight against smuggling had gone to producers of tobacco (BGN 107 M) and to long overdue asphalt repairs of streets (BGN 300-400 M).

He pointed out that the extra budget revenue was used to co-finance EU-funded projects in all Bulgarian municipalities, adding that this allowed the government to preserve the new debt in the fiscal reserve, thereby backing the currency board, which acted as a guarantee to foreign investors.

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Tags: EU funds, budget revenue, smuggling, Bulgarian Prime Minister, Boyko Borisov, wastewater treatment plant
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