Банкеръ Weekly



The state-run institutions and the budget-financed organizations already know how much money they can spend in 2003 after on Thursday (January 22) the Government approved a decree for the fulfillment of the State Budget.A new moment in the decree is the specification of funds, to be spent by the municipalities for the activities, transferred to them by the State. The document also fixes the deductions for the local authorities from the income tax proceeds. Their amount totals BGN697,800,000. In the first three months of 2003 the municipalities will get 23% of them. Another 26% will be paid in June, and the last tranche of 27% is due in the year-end.According to the Deputy Minister of Economy Kiril Ananiev, the Cabinet-approved decree practically confirms that the 2003 Budget is socially orientated. The financial plan, approved by Parliament, projects the State's expenditures for social activities at 13.9% of the GDP. Thus, the money for the Ministry of Labour and Social Policies will go up from BGN167MN in 2002 to more than BGN705MN for 2003. The subsidy for the Agriculture Fund will double and reach BGN40MN this year. The Tobacco Fund will have at its disposal BGN101MN in 2003, up some BGN36MN from last year. The National Healthcare Insurance Fund will be also able to increase its expenses as it will get BGN731MN. The subsidy to the Bulgarian State Railways (BDZ) remains unchanged at BGN70MN.The requirements to the users of budget funds in 2003 will be stricter. Calculations of their expenses for each quarter will be demanded.

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