Econ Min Mulls 30-Day Deadline for State, Municipalities’ Payments to Companies
Thursday, 01 January 1970
The economy ministry plans to propose amendments to the Trade Act setting a 30-day time limit for state and municipal authorities to settle their payments to companies, economy minister Delyan Dobrev said.
The deadline could be extended to up to 60 calendar days if that is explicitly stated in the contract under which the payment is due, state-run Bulgarian News Agency quoted Dobrev as telling parliament on Friday.
Although inter-company indebtedness stands at some 100 billion levs ($66 billion/51 billion euro), the state is strictly settling its liabilities to companies, Dobrev added.