Bulgarian Parliament Speaker: No Date Yet for Parliament Sitting on Vetoed Budget Update

Bulgarian Parliament Speaker Mihail Mikov has said that the extraordinary parliamentary sitting over the presidential veto on the update of the State Budget Act 2013 has not been scheduled yet.

In a statement to the Bulgarian Telegraph Agency (BTA), Mikov rejected as untrue reports that the Parliamentary Budget Committee would hold a sitting on Thursday, while the extraordinary parliament sitting would take place on Friday.

Mikov reported that he was still waiting for the parliamentary groups to indicate the most appropriate time for the immediate sitting over the partial veto imposed by Bulgarian President Rosen Plevneliev on the budget update.

The current, Socialist-endorsed Cabinet of former Finance Minister and now Prime Minister, Plamen Oresharski, decided in mid-July it was necessary to revise the budget prepared by Simeon Djankov, Finance Minister in the previous Cabinet of the center-right Citizens for European Development of Bulgaria party, GERB.

The update includes a plan to take a new loan in the amount of BGN 1 B to be used as a buffer for the fiscal reserve in 2014, when Bulgaria must make new payments on its foreign debt. Other funds will be slated for the overdue money for the business and for social measures.

Last week, Plevneliev announced he had imposed a partial veto on the Law on Amending and Supplementing the State Budget Act for 2013, saying the Socialist-led coalition government had not shown enough transparency in its use of public money.

He noted that he failed to see serious plans about policies and reforms in support of competition and economic growth.

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