The Bulgarian Socialist Party (BSP) respected the will of Bulgarian people and their desire for change, BSP leader and outgoing Prime Minister Sergei Stanishev said during his speech on the first day of the 41^st National Assembly on July 14 2009.

BSP lost the elections, trailing Sofia mayor Boiko Borissov's Citizens for European Development of Bulgaria (GERB), which is expected to form a cabinet by July 27 2009.

BSP will be a strong, dependable and competent opposition and will present alternative ideas when the ruling majority's ideas are not beneficial to Bulgaria, Stanishev said, while wishing good luck to the GERB and other newly elected MPs.

"We will seek a national consensus in the name of Bulgaria's European Union integration, and the country's financial stability," Stanishev said, vowing his support for the existing currency board agreement.

"The BSP will support a policy of speeding the reform of the judiciary and any policy that leads to higher incomes for Bulgarians and more financial decentralisation of municipalities," he said.

Stanishev expressed hopes that his Cabinet's achievements – citing maternity leave, increased pensions and free school textbooks –  would not be repealed.

"The BSP will resist any form of political repression and unequal treatment of municipalities based on the party affiliation of the mayor," he said.

He also advised the future cabinet not to abolish the post of Deputy Prime Minister in charge of EU funds, as Borissov has already promised to do.

"I would not accept the false statement that we are leaving the country in a state of financial collapse, given the increase in FDI in the past four years, and economic growth," he said.