Petar Chobanov

Municipalities in Bulgaria will be granted additional BGN 100M in 2015, Minister of Finance Petar Chobanov announced, Monday.

Minister Chobanov and Bulgarian Development Bank CEO Dimo Spasov have met with representatives of the business and have introduced credit opportunities for the SMEs in the city of Veliko Tarnovo, Standart news reports.

Bulgaria's Finance Ministry has improved its 2014 GDP growth forecast.

Citing improved forecasts of the European Commission (EC) and the International Monetary Fund (IMF) about the development of the European and the global economy, the Finance Ministry has grown more optimistic about Bulgaria's economic development.

Bulgaria's government is planning to spend BGN 100 M (EUR 50 M) a year on Christmas and Easter pension allowances.

In 2015 alone, BGN 265 M (EUR 132.5 M) are to be put aside for pensions.

Their minimum threshold is expected to increase from BGN 154.50 (EUR 87.25) to BGN 168.50 (EUR 89.25) by July 1, 2017.

Bulgaria's Government approved the preparations for issuing state bonds at the international stock market, said the Government press office. 

The Government authorized Finance Minister Petar Chobanov to negotiate with the selected managing banks and the legal consultants, as well as to sign on behalf of the state all necessary documents. 

Three new water reservoirs will be built on Bulgarian territory before 2017, Finance Minister Petar Chobanov announced on Monday.

It is estimated that construction will be worth BGN 147 M, Bulgarian website Standart News has reported, citing Minister of Regional Development Desislava Terzieva.