The parliament has adopted the State Budget Act of the Republic of Bulgaria for 2013. The total of the subsidies allocated for the municipalities’activities, delegated by the state, amounts to BGN 1 941 743 600. The sum is BGN 20 M more than in the original version of the draft budget bill.
The Finance Ministry explains that the 2013 budget has three main accents – continues the policy of fiscal consolidation with the view to ensure the macroeconomic and financial stability of the country; directs expenditures towards sectors generating economic growth; makes effort to overcome poverty and protect the most vulnerable strata of the population. The priorities consist of tackling the most important economic and social challenges of the country and of setting economic conditions that will stimulate economic growth and employment. The tax policy for 2013 preserves the same rate of direct taxation aiming at encouraging and increasing direct foreign investments and at decreasing the share of the grey economy.