The Bulgarian Socialist Party will launch consultations next week for tabling a no-confidence vote against PM Boyko Borisov's center-right GERB cabinet, announced socialist leader Sergey Stanishev.

Speaking in an interview for Nova TV Sunday, Stanishev said that the Socialist will hold extensive talks with the third-largest party in parliament, the ethnic Turkish Movement for Rights and Freedoms, as well as with the rightists from the Blue Coalition, who have of late also started to oppose Borisov's government.

According to Stanishev, the two main policy lines along which the GERB cabinet has failed is the social-economic and the security spheres.

"The Bulgarian economy is in shambles. The fiscal reserve is half vanished, for no apparent purpose, and FinMin Simeon Djankov's overall policy has badly failed. Internal debt has sharply risen," commented the socialist leader and ex-PM of Bulgaria.

Stanishev argued that while other EU countries are emerging from the recession, growth in Bulgaria has virtually frozen thanks what he saw as inadequate government intervention.

According to Stanishev, the GERB cabinet has also failed in its priority in curbing organized crime and ensuring a swift entry of Bulgaria into the Schengen Area, which is also a sufficient ground to call for a no-confidence vote.

The socialist leader said his party will seek out a broad parliamentary support of its motion before tabling it.

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