Cause and Effect in European Politics and Law

There is 4 bn levs deficit in the Bulgarian exchequer, says Ivan Kostov

Adelina Marini, May 13, 2009

The leader of the Bulgarian opposition party DSB (Democrats for Strong Bulgaria) in a lecture at the University for National and World Economy said, quoting information of the Ministry of Finance, that there is only 4 bn levs in the exchequer of almost 22 bn which the country is to collect this year. There is also stern inability to use to financial aid from the EU funds because only 8 % of the money is being contracted so far. Beside this the DSB leader underlined that the decision of the Bulgarian business to invest large amounts of money in construction of big resorts and hotels, expecting great profit, has lead to the blocking of enormous financial resources.