`4.5% economic growth, average annual inflation of 3.52% and currency of BGN 2.10 for USD 1 are set in the draft for the 2002 budget, `the Finance Minister Milen Velchev announced. According to the draft of the budget the state salaries will be increased twice in 2002: 5% on January 1 and 5% on July 1. The average pension will go up with 9.9%. The assistance for children will go up with 23%, the unemployment assistance – with 32%. The tax on profit will be 15%. VAT on the tourist packages, sold abroad, the medical products and the law services is expected to be introduced. The patent taxes will be updated. The wine excise label will be removed, the beer excise will go up with BGN 0,003.4 per bottle. The tobacco excise and the excise of some liquid fuels are to be increased. Road tax will be introduced as in the European Union countries.BGN 20 M have been out aside in the budget for the creation of a guarantee fund for micro-credits. Capital expenses for over BGN 1,000 M have been projected. The actual average wage is expected to increase by 5.2% from BGN 259.9 (projected year-end value for 2001) to BGN 282.6 in 2002. The actual pay rise in the budget-subsidized sector is expected to be 8.2% (from BGN 249.6 to BGN 279.6) and that in the extra budgetary sector is expected to come around 4.2% (from BGN 262.7 to BGN 283.4).

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