GERB to Return to Parliament to Vote Against Budget Revision

GERB to Return to Parliament to Vote Against Budget Revision

 Centre-right party GERB will return to Parliament to vote against the budget revision which the cabinet approved on Monday, party leader Boyko Borisov said.
The Socialist-led government of Plamen Oresharski approved an update of the state budget which envisages increasing the fiscal deficit to 2.0% of gross domestic product (GDP) from 1.3% of GDP to reflect projected revenue shortfalls and expenditure overruns, and borrowing up to 1.0 billion levs.
The cabinet's decision will lead to excessive deficit procedure for Bulgaria, Borisov told a news conference after meeting with the leaders of the biggest trade unions in the country. The money that the government plans to borrow will not go to fuel industrial production, and its effect will be short-lived, he added. Still, GERB will back spending an extra 150 million levs to support the most vulnerable social groups, the former prime minister said.
GERB, one of the four parties represented in the National Assembly, has been boycotting the parliamentary sittings since the end of May, pledging to return to the plenary hall when a debate on Election Code amendments begins and new snap elections are scheduled. 
Massive anti-government protests have been staged in Sofia daily for over a month now. The protesters accuse the incumbents of bowing to oligarchic interests.
 
 
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