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HOT: » Center-right GERB party's decision to boycott Parliament puts key updates of 2014's state budget into question

Ruling Party MP: New Bulgaria State Budget Is Conservative

Business » FINANCE | October 11, 2012, Thursday // 09:34| Views: 862 | Comments: 0
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Bulgaria: Ruling Party MP: New Bulgaria State Budget Is Conservative Bulgarian Parliament Budget Committee chair Menda Stoyanova. Photo by BGNES

Bulgaria's draft state budget for 2013 is rather conservative, rather than upping spending pre-election, according to ruling center-right GERB party PM Menda Stoyanova.

"It's actually a rather boring budget, and its macroframework is quite frugal," commented for the Bulgarian National TV Stoyanova, who is chair of the Parliament's Committee on Finance.

The GERB MP was reacting to accusations that cabinet is uping social spending just ahead of general elections in the summer of 2013.

She also defended the level of revenue provided for in the draft, as well as the 1.2% GDP growth it forecasts.

However, Stoyanova said that revenue for 2013 has not been calculated on the basis of previewed GDP.

Further, she supported the idea first voiced by Bulgarian Minister of Finance Simeon Djankov to introduce a new tax to be levied on bank interest.

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Tags: budget, GDP, revenue, growth, spending, Menda Stoyanova, Simeon Djankov, tax, interest, GERB
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