Bulgarian MPs Approve New BGN 1 B Foreign Debt

Finance | August 1, 2013, Thursday // 12:00|  views

Bulgarian MPs are working Thursday on turning the State budget update bill into a law before going on summer break. File photo

The Members of the Bulgarian Parliament approved Thursday a new loan in the amount of BGN 1 B, giving the government the authority to apply for it and receive it.

The vote happened in the frame of the second reading debates on revising State budget 2013.

According to the amendment to the State Budget Act, the Council of Ministries can now assume foreign State debt including through the issuing of government securities in international markets, totaling BGN 1 B or its equivalent in another currency, under the terms of follow-up ratification.

A total of 201 MPs were in plenary hall and took part in the vote.

107 voted for, 87 – against, and 7 abstained.

Those against were from the opposition Citizens for European Development of Bulgaria party, GERB.

The debates on the budget actualization continue.

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