Bulgaria's Patriotic Front Opposes Ratification of New BGN 16 B Debt

Business » FINANCE | February 25, 2015, Wednesday // 13:37
Bulgaria: Bulgaria's Patriotic Front Opposes Ratification of New BGN 16 B Debt Co-chairman of the Patriotic Front Valeri Simeonov. Photo:BGNES

The Patriotic Front (PF), one of the parties backing the coalition government, announced that it is not going to support the ratification of the contract for the issue of new BGN 16 B debt.

This was announced by the co-chairperson of the PF Valeri Simeonov during his statement in the parliamentary chamber on Wednesday, daily Dnevnik reports.

Simeonov criticised the government of not holding an information campaign on the new debt.

Although the PF is convinced in the need for new debt, the party feels that the majority of its supporters, as well as the predominant part of society, have negative attitude towards the debt.

Simeonov asked why the government had not taken steps to increase collection of revenues through introducing measures to fight smuggling.

He also pointed to the lack of punishment for those guilty for the collapse of Corporate Commercial Bank (KTB).

Simeonov also posed a question whether former governments will be held to account for the scale of the debt as well as whether responsibility will be sought for the state of the energy sector.

According to him, the need for the debt should have been foreseen during the formation of the government and the formulation of its programme.

At the end, Simeonov assured that the PF supports the governance programme of the cabinet.

The Bulgarian Parliament is holding a plenary sitting on Wednesday, at which it is going to vote on whether to approve the new debt.

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Tags: Bulgaria, PF, coalition government, debt, Valeri Simeonov
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