Outstanding debts of Bulgarian municipalities amounted to BGN 156.6 M by March 31, 2013, down by BGN 40 M from the same period of 2012, according to statistics of the Finance Ministry.

A total of 111 Bulgarian municipalities (42%) had outstanding debts by the end of the first quarter of 2013.

By the end of Q1, 2013, 106 municipalities managed to reduce their debts, while 67 increased the amount of delayed payments.

By the end of the first quarter of 2013, Bulgarian municipalities had outstanding debts amounting to a total of BGN 933 M.

According to Finance Ministry data, the Sofia Municipality achieved one of the biggest decreases in outstanding debt by over BGN 5.8 M to BGN 7.37 M by March 31, 2013.

In Q1, 2013, the southeastern municipality of Yambol managed to clear all debts, while the southern municipality of Plovdiv increased outstanding debts by BGN 852 000 to BGN 10.9 M, and the debts of the northeastern municipality of Dobrich went up by BGN 447 000.

Source