Abstract

An analysis has been made on the condition, the trends and the financing of the investments in the municipal budgets in the context of the development of municipal finance in Bulgaria for the period 1994-2005. Formulated are main conclusions and challenges in front the municipal investments in connection with Bulgaria's EU Membership and the necessity of a new system of investment income sources for the municipalities. On the basis of an analysis of the international experience formulated are suggestions for different investment income sources on municipal level which could be realized in the Bulgarian conditions.