Bulgaria’s Finance Ministry: 17 municipalities in serious financial difficulties

Written by on March 16, 2019 in Bulgaria - Comments Off on Bulgaria’s Finance Ministry: 17 municipalities in serious financial difficulties

Seventeen municipalities in Bulgaria were in serious financial difficulties at the close of 2018, four fewer than the year before, the Finance Ministry said.

The 17 are the municipalities of Kresna, Strumyani, Sozopol, Belogradchik, Bregovo, Dimovo, Krivodol, Oryahovo, Kurdzhali, Kocherinovo, Septembri, Pernik, Tsar Kaloyan, Devin, Nedelino, Chepelare and Stambolovo, the ministry said.

Eight on the list in 2019 had not been on the 2018 list, the Finance Ministry said: Kresna, Sozopol, Bregovo, Krivodol, Oryahovo, Kurdzhali, Tsar Kaloyan and Devin.

Four had been removed from the list because their remedial measures had been deemed effective: Simitli, Gramada, Rila and Sapareva Banya.

The Finance Ministry published the list, as required by the Public Finance Act, following an analysis of the 265 municipalities in Bulgaria.

Seven municipalities have been included in the financial recovery list in 2016, 2017, 2018 and 2019. These are Strumyani, Dimovo, Septembri, Pernik, Nedelino, Chepelare and Stambolovo.

The Finance Ministry said that in 2019, its efforts would continue to be directed towards improving the efficiency of the management of municipal spending, together with the positive trend of improving the revenue side in municipal budgets.

(Photo of Sozopol: Clive Leviev-Sawyer)

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