PM Expects Municipalities to Report Over LV 500 Mln Carry-Over Balance at Year-End

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PM Expects Municipalities to Report Over LV 500 Mln Carry-Over Balance at Year-End

Bulgarian municipalities are expected to report a carry-over balance of over 500 million leva (255.645 mln euros) at the end of this year, Prime Minister Sergei Stanishev said Monday at a working meeting with newly elected mayors of the Left. The discussions focused on the utilization of funding available under the EU operational program.

In the words of the Prime Minister, such a carry-over was unthinkable years ago when the municipalities invariable ended the year with a deficit.

Bulgaria has successfully passed the first test in the preparation for utilizing the EU funding because all of its operational programs were approved, are opened and the procedures for collecting proposals and making advance payments are under way, said the Prime Minister.

In 70-80 per cent of the projects to be funded by the operational programs, the final beneficiaries will be the Bulgarian municipalities, he added.

In his words, the development of small mid-sized and large municipalities is not balanced and the cohesion policy remains a priority.

The Prime Minister recalled that the 2008 draft budget has more than 50 per cent increase of the capital costs for infrastructure.

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