Bulgarian Parliament Committee Snubs President's Budget Veto

Finance | August 15, 2013, Thursday // 18:19|  views

Bulgarian Minister of Finance Petar Chobanov. Photo by BGNES

The Bulgarian Parliament's finance committee has voted against President Rosen Plevneliev's veto on a recent state budget revision.

MPs are to convene Friday at a special mid-recess plenary to review the veto.

The budget update, tabled by cabinet, features taking a BGN 1 M loan to be largely used for paying arrears to businesses and increased social benefits.

Plevneliev has criticized what he has called the lack of transparency and the excessive amount of discretionary spending in the revision.

After the vote Thursday, Bulgarian Minister of Finance Petar Chobanov reiterated the cabinet's arguments for the revision, citing slowed down state revenue and a need for increases social spending.

Former ruling GERB party vowed that they will oppose the revision in plenary Friday.

On their part, trade unions and employers' associations have given their thumbs up for the budget update.

Friday ruling Bulgarian Socialist Party and Movement for Rights and Freedoms will have to rely on support from nationalists Ataka in order to be able to gain an absolute majority and surmount the veto.

Ataka have not said which way they will vote, and their MPs were not present at Thursday's sitting of the finance committee.

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Tags: budget update, budget revision, veto, Rosen Plevneliev, GERB, social spending, arrears, loan, Petar Chobanov, Bulgarian Socialist Party, Ataka, Movement for Rights and Freedoms


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