Voting on New Bulgarian Government Debt Issue Postponed

Parliamentary debates regarding the possible new debt issue of BGN 16 B will be postponed after the majority of MPs voted in favor of the proposal on Thursday.

The proposal came from the leader of nationalist Patriotic Front party, Valeri Simeonov. He added that in order for a decision of that importance to be taken, more clarifications will be needed.

Most MPs agreed, with 115 voting in favor, 59 against and two abstained.

Finance Minister Vladislav Goranov stated that the government is considering the option of issuing 30-year securities bearing a maximum interest rate of 10 percent. He added that new external borrowings will provide for its financial stability in the next three years.

Opposition parties, on the other hand, organized a series of protests in response on Wednesday.