BDZ Paid Part of its Debt to the State

Politics » DOMESTIC | August 10, 2017, Thursday // 11:35
Bulgaria: BDZ Paid Part of its Debt to the State Source: iNews.bg

Holding BDZ EAD extinguishes its liabilities to the state budget, amounting to BGN 42 million. The funds are secured through a non-interest-bearing loan as a result of the notification received by the European Commission.

The company's liabilities to the budget are formed as a result of payments made after activated state guarantees for repayment of World Bank loans received by the World Bank under the 1995 Restructuring Project in Bulgaria. The repayment of these liabilities will save on penalties, amounting to BGN 2.7 million on an annual basis.

In recent months BDZ has managed to repay early part of its obligations to other creditors.

Domestic » Be a reporter: Write and send your article
Tags: BDZ, debt, repayment

Advertisement
Advertisement
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