Bulgarian Government Approves Draft Bill on State Aid

Business | January 13, 2016, Wednesday // 19:11
Bulgaria: Bulgarian Government Approves Draft Bill on State Aid

Bulgaria’s government has approved a draft law on state aid that aims to improve financial discipline in the public sector and lower fiscal risks.

The draft bill fills the existing legal gap and introduces a national mechanism for the recovery of unlawful or incompatible state aid that causes market distortions, the government said in a statement following a weekly meeting on Wednesday.

The prpoosed legislation also introduces a mechanism for legal protection of competitors and third parties affected by the unlawful granting of state aid.

The proposed legislation aims to improve the existing procedure for imposing penalties for breaching the regulations for granting and receiving state aid. The process will be handled by the Public Financial Inspection Agency (PFIA).



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

Business » Be a reporter: Write and send your article
Tags: Bulgaria, government, state aid, draft bill, penalties

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