Bulgarian President Supports Government Proposal for BGN 16 B Debt

Bulgarian President Rosen Plevneliev said that he supports the responsible approach of the local government to refinance old debt throughnew credits contracted on much better terms.

The affirmation was made in an interview for 24 chasa daily.

''I am surprised that the government was not able to explain its intentions well enough,'' Plevneliev added. ''Today we can believe that a well-structured campaign can bring 3% interest payable. Let's not forget that the debt negotiated by former finance minister Milen Velchev was at interest of 8,5%, three times higher.''

The Bulgarian President has also stated that he will be looking into resubmitting his request for a referendum on voting rights in May.

He added that in his opinion, local elections can be easily combined with a referendum on electoral rules - a majority system, compulsory voting, and e-voting.

Asked whether he believes the political system of Bulgaria should be changed from Parliamentary to Presidential Republic, he answered that he believes in the parliamentary system.

The President however, said that he believes the partial veto power he currently has needs to be deliberated upon. The institution in Bulgaria has the power to impose a veto, but it can easily be overturned in Parliament in a second hearing of a given motion.

He further assured that nobody in Bulgaria wants war or is preparing to wage a war, denying the allegations of mobilization in the country. Rumors started after the decision for a NATO command center to be located in Sofia and for upcoming joined military training between alliance forces and local army battalions.