Public economics

Finance Minister Gikas Hardouvelis said in a television interview aired on Monday that Greece needs money to start flowing into the country, «and a way to achieve that is privatizations."

The European Commission has insisted that Bulgaria either reverse some of its controversial land swap deals or demand back "state aid" given to some involved companies.

Brussels says the deals constitute a violation of the EU's competition rules, the Commission said in statement also received by Novinite.

Bulgaria's caretaker government plans to propose to parliament that will be formed after October 5 snap vote to raise this year's budget deficit to just below 3% of GDP.

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Bulgaria's Customs Agency faces a shortfall of BGN 617 M by end-August 2014, according to Customs Agency head Vanyo Tanov.

In a Thursday interview for bTV, Tanov made clear that the deficit had been formed due to the weak excise duty receipts and VAT receipts.

He insisted that the VAT receipts target was very unrealistic.

BELGRADE - Serbia's public debt rose from EUR 20.94 billion in July to EUR 21.84 billion by September 3 this year, an increase of about EUR 900 million, Serbia's Public Debt Administration said in a release on Thursday.

"Keeping bad companies alive is luxury"

BELGRADE -- New Economy Minister Željko Sertić says many of the 502 companies included in the recent public call for privatization are not likely to be profitable.

This would not happen "even if all their overdue debts are erased - so they will probably not attract any prospective buyers."

An amendment introduced by 16 New Democracy MPs offering tax relief to monks and monasteries was accepted by Education and Religious Affairs Minister Andreas Loverdos on Wednesday.

Bulgarian farmers whose agricultural land was completely destroyed by the natural disasters last year, will be compensated with a total of BGN 4.4M, the State Fund Agriculture informed.

A total of 850 natural persons inspected in the period January-June 2014 committed income tax evasion worth BGN 20M, according to data of Bulgaria's National Revenue Agency (NRA).

All were issued tax assessment notices.

Unless the due sums are paid in two weeks, the money will be collected through enforced recovery proceedings.

By Dimitris Kontogiannis