Bulgarian President To Veto Retirement Age Increase

Bulgarian President To Veto Retirement Age Increase

Bulgarian President Georgi Purvanov will veto the 2012 social insurance budget act which raises retirement age in the country.

The reasons for the veto concern the substance of the amendments, the procedure of their submission and approval, and the fiscal effect of their application, state-run Bulgarian News Agency said.

At a meeting with Purvanov, the two presidents of local trade unions, Konstantin Trenchev and Plamen Dimitrov, and Social Policy Committee Chairman Dragomir Stoinev took strong exception to the social policy pursued by the ruling party and the finance minister's unpredictability regarding the existing agreements within the framework of the national three-partite dialogue, BTA reported, quoting a press release issued by the president's office.

The MPs passed the social insurance budget bill on December 8.

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