Bulgarian Parliament Approves Issuing BGN 16 B Worth of New Debt

Business » FINANCE | February 25, 2015, Wednesday // 14:25
Bulgaria: Bulgarian Parliament Approves Issuing BGN 16 B Worth of New Debt Following a voting, Bulgarian Parliament approves issue of new debt. Photo: BGNES

The Bulgarian Parliament approved on Wednesday the ratification of the contract for the issue of new debt worth BGN 16 B.

The ratification was approved by 161 MPs, with 50 MPs voting against, while 12 abstained, BGNES news agency reports.

During the parliamentary session, three of the parties, which had initially opposed the issuing of new debt, altered their positions and voted in favour of the borrowing plan.

The three parties that altered their positions were the left-wing Alternative for Bulgarian Revival (ABV), which supports the coalition government, as well as two opposition parties - the Movement for Rights and Freedoms (DPS) and the Bulgarian Democratic Centre (BDC).

The Bulgarian Socialist Party (BSP) and nationalist Ataka, which had organised protests outside the parliament building, voted against the new debt, while the Patriotic Front (PF) abstained.

The reversal in positions came after Finance Minister Vladislav Goranov made a commitment to decrease expenses with BGN 2 B and promised to initiate reforms.

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Tags: debt, parliament, Bulgaria, Vladislav Goranov, ABV, DPS, BDC, BSP, Ataka, PF
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