Parliament Approves in Principle Revised State Budget

Parliament Approves in Principle Revised State Budget

The National Assembly passed in principle on Thursday a controversial budget revision which provides for borrowing up to 1.0 billion levs. 
The loan would be used as a buffer for the fiscal reserve to offset possible liquidity risks in 2014, when Bulgaria must make new payments on its foreign debt. 
The revised budget sets deficit at 2.0% of the projected gross domestic product, up from the current 1.3%. 
Some 160.4 million leva will be allocated for overdue payments to businesses. A further 40 million leva will go for social payments to the most vulnerable groups.
The MPs of the centre-right GERB party voted against the budget update, the Bulgarian Socialist Party and the ethnic Turks’ Movement for Rights and Freedoms backed it, and nine Ataka MPs and one GERB MP abstained from voting, the Bulgarian News Agency reported. 


Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.