Sat, Nov 21 2009

Sofia municipality reduces investment programme by 15 per cent

Wed, Apr 29 2009 15:21 CET byNick Iliev 1016 Views
Sofia municipality reduces investment programme by 15 per cent

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Sofia municipality's planned investment campaign could be slashed by between 10 and 15 per cent by July this year, according to Minko Gerdjikov, deputy financial mayor, during a municipal finance conference, as reported by the Bulgarian Telegraph Agency, (BTA).
 
Gerdjikov indicated that, concurrently, there is a new trend of growing interest from construction companies who apply for tenders and competitions for public works and projects, announced by Sofia municipality. He cites the reconstruction and refurbishment project for the First Multi Profile Hospital for active healing, (FMPAH) for which a total of 46 firms had applied.
 
By the end of March, the total collected revenue that entered the municipality’s coffers amounted to 329.6 million leva. 
 
Until March 31, 21 per cent of the contemplated real estate tax had been collected, and 55 per cent of the projected motor vehicle tax. Tax from bequeathed property  amounted to three per cent, whereas from the property acquisition tax only nine per cent of the calculated sums had been gathered. 
 
Refuse tax as of March 30 was 33 per cent of the total foreseen amount, estimated at 161 million leva, said Gerdjinkov.
 
Meanwhile, Ivan Neikov, municipal advisor from the Union of Democratic Forces (UDF) has suggested that the municipal investment programme should be reduced by as much as 25 per cent.

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