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Article: WORLD BANK/EASTERN EUROPE: RAFT OF FINANCING MEASURES APPROVED.
- Article from:
- Europe-East
- Article date:
- June 19, 2003
CopyrightCOPYRIGHT 2003 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bulgaria - tax revenue.
The World Bank approved on June 5 a Euro 31.9 million loan for a Revenue Administration Reform Project in Bulgaria, which will help the country develop a modern and effective revenue collection system. The system ultimately intends to create opportunities to lower direct tax and insurance rates in line with the government economic policy of growth and employment creation. Economic benefits of the project are projected to be significant - the net revenue is expected to exceed Euro 1 billion. The total cost of the project is estimated at USD63 million, including USD28.85 million from the Bulgarian government. The World Bank loan has a ...
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