Sofia budget 2012 -almost BGN 1.3 bn

“Sofia’s 2012 draft budget is BGN 1.272 bn,” Doncho Barbalov, Deputy Mayor responsible for finance at the Municipality, announced today. “The amount is less than for 2011, but the draft presents a very realistic forecast. Our own proceeds will again be mainly collected from real estate taxes, vehicle taxes and garbage fees,” explained Barbalov.

In 2012, Sofia Municipality plans to collect BGN 521 mln from its own proceeds, as well as BGN 439 mln from EU operational programmes, BGN 241 mln from delegated activities, BGN 41 mln from rents and BGN 18 mln – from the Municipal Privatisation Fund.

“The analysis shows that the crisis in our country and in Europe is serious and this is why the 2012 draft budget is conservative. However, our investment programme for next year amounts to BGN 613 mln. We have planned BGN 33 mln for education and we expect to create 3,800 new places in kindergartens. We plan to invest BGN 90 mln in transport and BGN 27 mln for repair of streets,” specified Barbalov.

As of November 30, 2011, the fulfilment of the revenue side of the 2011 budget was 78.4%. Municipal financiers, however, predict that the fulfilment will reach 85% by the end of the year.

Doncho Barbalov announced that the draft budget will be submitted for consideration by the commissions of the Sofia Municipal Council and will be proposed for public discussion immediately after the Christmas holidays.

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