Bulgaria's Socialist-Led Govt Survives No-Confidence Vote On Fiscal Policy

Bulgaria's Socialist-Led Govt Survives No-Confidence Vote On Fiscal Policy

Bulgaria's Socialist-led government survived on Friday a no-confidence vote sought by the opposition centre-right party GERB over its fiscal policy, the National Assembly chairman said.
The no-confidence motion was rejected in a 114 to 109 vote, with one MP abstaining from voting, Mihail Mikov said.
The motion needed 121 votes to pass.
GERB filed the motion last week after the finance ministry said Bulgaria will try to raise some 1.5 billion euro ($2.05 billion) via an up to 15-year bond issue on the international markets. Part of the proceeds will go to refinance a eurobond issue which matures next year, and the other will be used to cover the budget deficit.
The cabinet of Plamen Oresharski is backed by the Socialists' Coalition for Bulgaria and the ethnic Turks' Movement for Rights and Freedoms (MRF).
Last week, MRF's leader Lyutvi Mestan called for early general elections, saying the results of the recent elections for members of the European Parliament (EP) - in which the Socialists suffered a crushing defeat - have created a new political reality in the country. In response, Coalition For Bulgaria leader Sergey Stanishev said that MRF having withdrawn its support for the government, early elections should be held as soon as possible.
GERB won the May 25 elections for EP by a decisive margin, polling 30.4% of the votes. The Coalition for Bulgaria was supported by a mere 18.9% of voters, followed closely by the MRF with 17.3%.
Over the past year GERB has repeatedly called for early general elections in the country. The leaders of two other political formations which crossed the 5.88% threshold for entry into the EP - Bulgaria without Censorship and the Reformist Bloc - too have demanded snap elections.

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