Bulgaria’s Silver Fund to Rise by 153.4 Mln Euro in May

Bulgaria’s Silver Fund to Rise by 153.4 Mln Euro in May

Bulgaria expects that its Silver Fund will increase by 300 million levs in May, when the proceeds from the privatisation of tobacco monopoly Bulgartabac and the state holdings in power distributor EVN will be transferred to its account.

The government has included in its plans for privatisation this year another 50 companies as the revenue will go towards the 2013 state budget, business weekly Capital quoted finance minister Simeon Dyankov as saying on Friday. Dyankov did not give a figure for the estimated size of the expected revenue.

Among the companies selected for privatisation are machine engineering company Technoexportstroy, arms manufacturer VMZ, the two local power distributors in which the state still holds a stake, and publishing and printing company IPK Rodina, among others.

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