Bulgarian Parliament Approves 2016 Draft Budget at First Reading

Business » FINANCE | November 20, 2015, Friday // 07:59
Bulgaria: Bulgarian Parliament Approves 2016 Draft Budget at First Reading The plenary chamber of the Bulgarian Nationa Assembly. Photo: BGNES

On Thursday, the Bulgarian parliament approved at first reading the draft government budget for next year.

A total of 138 MPs voted in favour of the draft budget, 65 lawmakers were against, while nine abstained, daily Dnevnik informs.

The draft budget was approved by MPs from the two parties constituting the ruling coalition, namely the main ruling party GERB and its junior coalition partner the Reformist Bloc (RB).

MPs from the two parties supporting the coalition government – the Patriotic Front (PF) and the Alternative for Bulgarian Revival (ABV) also voted in favour of the draft budget.

Lawmakers from the Bulgarian Democratic Centre (BDC) as well as three MPs not belonging to any parliamentary group also backed the draft budget.

MPs from the main opposition parties - the Bulgarian Socialist Party (BSP), the Movement for Rights and Freedoms (DPS) and the nationalist Ataka voted against the draft budget.

Finance Minister Vladislav Goranov described the draft budget as stable and realistic, private bTV station reports.

The draft budget foresees revenues of BGN 33 B, expenditures of BGN 34.8 B and a deficit of BGN 1.8 B or 2 %.

The economic growth is forecast at 2.1 %, while the government is expected to take a new BGN 5.3 B loan.

At the same time an update of the 2015 budget was proposed, with the deficit set to increase from 3 % to 3.3 %.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Bulgaria, budget, GERB, RB, PF, ABV, BSP, DPS, BDC, Ataka, revenues, expenditures, deficit, loan, Vladislav Goranov
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria