BGN

Bulgaria's state budget loses BGN 2B annually due to VAT fraud, according to data of the Economic Research Institute with the Bulgarian Academy of Sciences.

Taking into account the uncollected excise duty, losses swell up to BGN 4B per year, the Director of the Institute Prof. Mitko Dimitrov said, cited by Cross news agency.

Bulgarian Sports Totalizator has rendered BGN 26,938,000 to the Ministry of Youth and Sports in 2013, a total of BGN 4M more than in 2012.

The increase was primarily due to changes in the Totalizator's regulations, namely a 17% cost reduction, and 18% of revenues allocated to sports, Dnevnik informs.

Miscalculations involving the fence which is to be constructed along the Bulgarian-Turkish border are worth around BGN 4 M.

Bulgaria's Defense Ministry has written up the total sum, thus increasing it from BGN 5.1 M to BGN 9.664 M.

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.

The E.Miroglio company, leader on the international textile market, will invest BGN 55M in its textile factories in Bulgaria's cities of Sliven, Yambol and Svishtov in 2014.

Part of the money will come from European programs, the owner of the enterprise Edoardo Miroglio announced.

Some 75% of all loans in Bulgaria are for amounts of less than BGN 5000, according to data of the Bulgarian National Bank by end-2013.

The number of loans for up to BGN 5000 is 2,001,363 out of 2,654,324 total number of physical persons loans.