Банкеръ Weekly

Briefs

TREASURY

Banks and municipalities should unite their resources in order to give people an opportunity to buy homes. This is one of the purposes of the future law on housing policy. The draft bill together with a special programme on housing construction should enter the Council of Ministers by October 2001, and both are to be approved by Parliament by the year-end, Deputy Premier and Minister of Construction and Public Works Kostadin Paskalev said. Facilitation of housing construction crediting on the part of banks is the major problem to be solved, Mr. Paskalev believes.

As of August 1 Biochim commercial bank is issuing for free within 24 hours Cirius/Maestro international debit cards. A 3% annual interest will be paid on the deposits in the debit card accounts. Holders of Cirius/Maestro cards may use an overdraft (a small short-term loan). Bulgarian currency can be deposited in the debit card account, but this is not an obstacle for drawing money and effecting payments abroad.

The deficit in the consolidated budget amounted to BGL78MN for the first seven months of this eyar. Revenues into the consplidated budget totalled BGL7.014MB, and expenditures - BGL7.092BN. The deficit in the republican budget by July 31, 2001 totalled BGL481MN, with revenues of BGL3.876BN and expenditures of BGL4.357BN.

From the beginning of 2001 till end-April the Bureau for Financial Investigation intercepted money laundrying of over USD90MN. According to the agency's report 53 of the cases have already been sumbitted to the Prosecutor's Office, and another 57 have been passed to the Ministry of Internal Affairs. The bulk of reports on dubious deals - 81% of a total of 801 - have been hended by commercial banks. From the end of 1998 till end-April 2001, money laundrying of USD114,720,000 and operations worth USD1,472,847 were intercepted.

The Black Sea Bank for Trade and Development will host a conference of the European Union in Thessaloniki on September 10, 2001. The European Commission will present its latest researches on the economic development of the Black Sea reagion.

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