Sat, Feb 11 2012

Bulgarian Parliament passes 2010 Budget bill at first reading

Tue, Nov 17 2009 15:36 CET

byThe Sofia Echo staff

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Bulgarian Parliament passes 2010 Budget bill at first reading

Borissov, flanked by his two deputies in Cabinet, Finance Minister Simeon Dyankov, left, and Interior Minister Tsvetan Tsvetanov.

Photo: Georgi Kozhouharov

Bulgarian lawmakers passed the 2010 Budget bill with 135 votes in favour and 44 against on November 17 2009.

Unlike previous years, when the budget provided ample cause for back-and-forth exchanges between government and opposition MPs on Parliament floor, no debate was forthcoming this time.

Prime Minister Boiko Borissov, who presented the bill, once again re-iterated the Cabinet's challenge to balance out the books and the need for structural reforms in the education sector and public administration.

"This Budget was drafted at a difficult time for the economy and is a reflection of policies to overcome the crisis' effects," he said. "The Cabinet had to redirect public finances to maintain fiscal stability."

Fiscal stability, maintaining the currency board and entry to the exchange rate mechanism (ERM-2), the eurozone's waiting room, were main goals of the 2010 Budget, Borissov said.

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