Municipalities’ Total Debt Shrinks to 89 Mln Euro in 2012

Municipalities’ Total Debt Shrinks to 89 Mln Euro in 2012

Bulgarian municipalities' outstanding debts totalled 174.3 million levs ($120.5 million/89.1 million euro) at the end of last year, down by 33 million levs from a year earlier, the  finance ministry said.

The sum consists of the outstanding debts of 148 local municipalities, or some 56% of the total number in the country, while as many as 89 municipalities ended 2012 without debts, the ministry said in a statement.

Last year, as many as 120 municipalities reduced their outstanding liabilities with a combined 55 million levs, while another 55 provinces increased their arrears with 22 million levs total.

Consolidated municipal budget amounted to a surplus of 49 million levs at the end of 2012 compared with a deficit of 58 million levs a year earlier.

The most indebted municipality at the end of last year was Pernik, in the country's west, with a total of 14.1 million levs outstanding liabilities. It was followed by the municipality of Sofia and Kardzhali in southeastern Bulgaria with 13.2 million levs and 12.5 million levs, respectively. 


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