Send to Kindle
The final vote on the revision of Bulgaria's State budget 2013 will be held in plenary hall by the end of the week. File photo
The Parliamentary Committee on Budget and Finances passed at second reading the draft budget 2013 update.
The current, Socialist-endorsed Cabinet of former Finance Minister and now Prime Minister, Plamen Oresharski, and Finance Minister, Petar Chobanov, decided in mid-July it was necessary to revise the budget prepared by Simeon Djankov, Finance Minister in the previous Cabinet of the center-right Citizens for European Development of Bulgaria party, GERB.
The update includes a plan to take a new loan in the amount of BGN 1 B to be used as a buffer for the fiscal reserve in 2014, when Bulgaria must make new payments on its foreign debt. Other funds will be slated for the overdue money for the business and for social measures.
The MPs from the Committee approved the proposal of their colleagues from the left-wing Coalition for Bulgaria to increase the State assistance for families with disabled children from BGN 189 a month to BGN 217. The measure will take force in August and will affect 22 000 handicapped Bulgarian children.
BGN 3 M will be needed for it by the end of 2013, and another BGN 7.4 M for 2014.
The full budget update is to also become effective in August 2013. It is expected that the final vote on the revision will be held in plenary hall by the end of the week.
The Committee rejected GERB's proposal for a BGN 150 M-social package on grounds the government was already implementing social measures for the most disadvantaged groups and the number of people receiving "energy" assistance has been increased to 60 000, according to Chobanov.
Representatives of the trade unions stated they were deeply disappointed that even with the revision, social policies have been pushed to the side.
GERB and the recently-established right-leaning Reformist Block, which has no parliamentary representation, firmly oppose the revision.
One week ago, the first and only clashes with riot police during the now 47-day strong anti-government protests occurred when lawmakers and ministers decided to work late to discuss in 3 committees the budget update.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023
Bulgaria is grappling with a sharp increase in counterfeit currency, with the Bulgarian National Bank (BNB) reporting a concerning surge in fake banknotes, particularly those of 100 BGN denominations
Kiril Vatev, Bulgaria's Minister of Agriculture, has tendered his resignation
As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape
Acting Prime Minister Dimitar Glavchev has issued orders appointing nine new deputy ministers across six ministries
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023
As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape
In a recent report by the National Statistical Institute, Bulgaria's annual inflation rate for March witnessed a notable deceleration, settling at 3% compared to the previous month's figure of 3.0%
As Bulgaria grapples with a deepening political crisis and the looming specter of early elections, the economic ramifications are starkly evident
Bulgaria's aspirations to join the Eurozone in 2025 face significant hurdles as economic slowdown and political uncertainty pose formidable challenges, according to a recent analysis by the World Bank
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
