13.12.2014

"In 2015, the state will spend almost BGN 3.59 billion for EU-funded projects, with BGN 2.12 billion expected to be refunded", says Deputy Minister of Finance Karina Karaivanova in an interview for the Banker newspaper. She specifies that in 2015 Bulgaria will receive advance payments of 2% from the programme budget of the new programming period. The Deputy Minister of Finance explains that she expects work under the large projects included in the indicative annual working programmes of Transport and Transport Infrastructure and Environment 2014-2020 to start in the second half of 2015.

As to the debt policies of the Ministry of Finance, Mrs. Karaivanova comments that "after the payment of the global bonds in mid-January 2015 which total BGN 1.7 billion, the currency risk will drop considerably as these are USD-denominated bonds". Karina Karaivanova says that the Ministry of Finance will extend the deadlines for government debt repayment to the maximum and will expand its investor base because the country begins to go out to the international debt markets in an active way and will not count mostly on the domestic financial market.

In connection to the forthcoming release of the 2015 issue calendar, the Deputy Minister of Finance announces that the maturities of the forthcoming issues will be complied to the maximum degree with the government debt repayment profile and with the interest of investors participating in this market. She also specifies that "the bond volumes will satisfy the needs for refinancing of outstanding debt and government debt financing and will comply with the 2015 State Budget Law limits".