Bulgaria's Parliament Puts Off Debates on Budget Overhaul

Politics » DOMESTIC | July 17, 2014, Thursday // 09:55
Bulgaria: Bulgaria's Parliament Puts Off Debates on Budget Overhaul Photo by BGNES

Lawmakers have decided to postpone discussions on budget act amendments proposed by the government, MPs say.

The changes to the 2014 fiscal plan were due to be debated Thursday, but are not included into the agenda as the main ruling Bulgarian Socialist Party (BSP) has announced it opposes them.

No session was held in Parliament on that day as MPs failed to reach quorum.

BSP representatives say they accept financial measures agree to safeguard customers' deposits at the Corporate Commercial Bank (KTB), Bulgaria's fourth-largest lender which the central bank BNB intends to close down but to protect savings below BGN 100 000 by transferring them to its subsidiary Credit Agricole Bulgaria.

Socialist lawmaker Dimitar Gorov, however, explained other proposals made at Wednesday's session of the Council of Ministers "did not reflect the position of the BSP and will not be supported".

After the ministerial meeting Finance Minister Petar Chobanov announced the 2014's budget's income statement should be amended as the treasury has collected less revenues than what was projected initially.

Chobanov also proposed that the healthcare system be granted another BGN 225 M (EUR 122.5 M), with the funds envisaged to partly cover the deficit of the National Health Insurance Fund (NZOK).

The fund had long reiterated warnings its money were ending and it would not be able to make payments after September 1 this year.

Commenting on Chobanov's declaration that the income statement could not be fulfilled, Gorov described it as being "not a financial one, but in the area of guessing".

Center-right opposition GERB called the position of socialist lawmakers "a pre-election move".

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Tags: budget, parliament, quorum, BSP, GERB, healthcare, NZOK, KTB, BNB, Credit Agricole Bulgaria, dimitar gorov, Petar Chobanov
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