Municipal Budget Capital Investments in Bulgaria in the Period 1994 - 2005 - Situation, Trends and Challenges

The situation, trends and financing of municipal budget capital investment have been analyzed in the context of municipal finance development in the period 1994-2005. Major conclusions and challenges for the municipal capital investment have been formulated in the light of Bulgaria's membership in the European Union and the need for a new system of municipal capital investment revenues. Recommendations have been formulated based on the analysis of the international experience regarding potential municipal capital investment revenues that could be realized in Bulgarian conditions.