site.btaLosses due to Environmental Re-assessment of Investment Projects Total Lv 2.7 Bln in 10 Years

111 ECONOMY-SURVEY-LOSSES-INVESTMENTS

Losses due to Environmental Re-assessment
of Investment Projects
Total Lv 2.7 Bln in 10 Years


Sofia, October 4 (BTA) - Losses from the environmental re-assessment of investment projects amounted to some 2.7 billion leva between January 1 2007 and January 31 2018. This has emerged from a survey into the public cost of delayed investments due to their environmental re-evaluation, commissioned by the Environment and Water Ministry. Its findings were presented on Thursday at a BTA-hosted news conference by Krassen Stanchev, Dimiter Chobanov and Lyubomira Dimitrova of KC2, which carried out the survey .

The total losses are comparable with the volume of losses from natural and industrial disasters between 2010 and 2017.

The analysis spans high-profile contracts and projects, delayed national infrastructure projects, projects and contracts which contested in court.

The researchers said the analysis is based on conservative estimates under best- case scenario assessments.

The unrealized consumption is estimated at 343 million leva and the negative fiscal effects are assessed at 277 million leva. According to the report each day of project delay or suspension results in net losses for the public and the economy equal to 952,595 leva a day.

The negative effects for the public in the form of unrealized consumption, savings, taxes and contributions amount to a totalled of 505 million leva. The net losses from unrealized investments reached 498 million leva. Losses for land and forest owners near the protected areas along the Black Sea coast and mountainous areas stood at 416 million leva, said Dimiter Chobanov. RY/PP