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Fostering Local Development in Bulgaria: The Need of Fiscal Decentralisation

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Although local authorities in Bulgaria have been assigned various responsibilities over the past 15 years, state transfer flows toward municipal budgets have not increased in the same proportion. Only a degree of local financial independence and fiscal decentralisation can contribute to the development of a favourable investment climate and foster sustainable development. A gradual delegation of taxation power to local authorities as well as the development and adoption of a stable legal framework for the principles and mechanisms of the intergovernmental transfer system would contribute to greater financial independence of municipalities.
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Document Type: Review Article

Publication date: 2007-11-01

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