The Sofia Municipal Council adopted a financial estimate for Sofia's revenues and expenditures in the amount of 1.523 billion euros until the adoption of the State Budget Act for 2026. The report was submitted by Sofia Mayor Vasil Terziev, dariknews.bg specified.
The adopted estimate builds on the capital expenditure program, which was approved by the Sofia Municipal Council on March 12 this year. The document includes investments for the construction and renovation of kindergartens, schools, road infrastructure, parks, as well as for key transport projects.
„The framework for financing capital expenditures complements and develops the already adopted program. As I stated in March, our ambition was to build it with key projects for the city. We are fulfilling our promises and accelerating the work on strategic priorities for Sofia with investments in education, ecology, transport and infrastructure“, said Mayor Vasil Terziev.
Why is a financial estimate being adopted
By law, the financial framework of the municipality is tied to the adoption of the state budget and can be voted on only after its approval.
By adopting the financial estimate, Sofia Municipality ensures the necessary readiness for the implementation of the city's development projects and for the absorption of the planned funds.
“The main goal of the proposed estimate is to fulfill the condition of the current “extending law“, so that Sofia Municipality has the right to receive the targeted subsidy for capital expenditures from the state - nearly 13 million euros“, said Sofia Deputy Mayor for Finance Georgi Klisurski.
The document summarizes proposals from regional mayors and political groups.
How the funds were allocated
The adopted framework includes revenues of 735 million euros for state-delegated activities, 600 million euros of the municipality's own revenues, 60 million euros of European funds and 128 million euros of borrowed and other funds.
A total of 1.236 billion euros are current expenses, and 287 million euros are capital expenses.
The adopted estimate retains the projects from the capital expenditure program already approved in March, and also includes additional investments in important sectors for the city.
Investments in schools, kindergartens and community centers
The estimate includes 60 million euros under operational programs and the National Recovery Plan and sustainability.
The funds are intended for the construction and expansion of five schools, 12 kindergartens and the reconstruction of four community centers.
50 million euro loan for the third metro line
Among the funds included is a 50 million euro loan from the European Investment Bank for the construction of Line 3 - Stage 3 of the Sofia metro.
This concerns the section through “Slatina“ with a length of 6 km and six metro stations. It is planned to be completed in 2027.
13 million euros state subsidy for key infrastructure projects
The financial estimate also includes nearly 13 million euros in targeted subsidy for capital expenditures from the state budget.
These funds will finance the reconstruction of the tram track along „Maria Luiza“ Blvd., the construction of „Copenhagen“ Blvd. from „Samokovsko Shose“ St. to „Alexander Malinov“ Blvd., and the major renovation of „Tintyava“ St. in the „Izgrev“ area.
The project for the reconstruction of „Maria Luiza“ Blvd. in the section from „Opalchenska“ St. to ul. „Kozloduy“ starts this month. It will completely renew the tram route along the boulevard, which is more than 50 years old.
Blvd. „Copenhagen“ is a long-awaited new boulevard that will connect the neighborhoods „Mladost“ and „Druzhba“. The project includes a new rail track and a completely new road infrastructure. There is already a ready-made detailed design for it and a selected contractor.
Parks, sidewalks and neighborhood spaces
The estimate also includes the project for relocating the tram route along “Skobelev“ Blvd.
Funds have also been allocated for the repair and improvement of neighborhood parks and sidewalks.
The adopted financial estimate ensures continuity of key projects and implementation of strategic sites for improving the urban environment and modernization of Sofia.
Upgrading the already approved capital program
The Sofia Municipality points out that the adopted financial estimate not only builds on the already approved capital investment program, but also allows for expansion of investments without wasting time during the active construction season for sites with the necessary project readiness.
Thanks to the program adopted in March, supported the implementation of projects by regional administrations for the construction of kindergartens, the improvement of inter-block spaces and the modernization of public transport.
The new budget ensures financial stability and directs resources to new priority projects - both large urban projects such as the metro expansion, as well as the improvement of neighborhoods and the preparation of new projects.