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).

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