site.btaSofia Municipal Budget for This Year Set at BGN 2.55 Bln

The Sofia Municipal Council adopted the municipal budget for 2023 on Thursday by a vote of 33 in favour, 18 against and three abstentions.

The budget framework was set at BGN 2.55 billion, up by about BGN 30 million compared with 2022.

Thanking everyone who supported the scheme, Mayor Yordanka Fandakova said it is double the amount of the first budget she tabled as mayor of the capital in 2010.

The revenue side of the budget is increased by BGN 9.5 million, and the expenditure side by BGN 13.3 million. Investments are set at BGN 670 million, including BGN 323 million (48%) to be financed from the municipality's own revenues. There is also BGN 295.6 million (44%) in funding for specific projects under EU-supported programmes. Targeted funding from the central government budget for investments in Sofia is 8% of the total, Fandakova said.