An iconic Bulgarian institution, the Vassil Levski National Military University in Veliko Turnovo, has been forced to temporarily shut down and issue a "holiday" beginning on January 11 due to outstanding debts exceeding 1.5 million leva, the university's principal told Bulgarian media on January 10 2010.

In response, the Bulgarian Ministry of Defence released a media statement in which it said that the ministry does not owe any money to the institution, Dnevnik daily reported on January 11 2010.

Reportedly, the university was allocated 14.7 million leva in 2009 from the Budget. Additionally, the Ministry of Defence had wired about 782 200 leva as a supplementary subsidy to help the university cover wages, insurance and other expenses.

As an academic institution, the Vassil Levski National Military University is entitled to a specific "annual budget" which is wired automatically from the MoD. on January 5 2010, the ministry transferred 839 000 leva. This constitutes one twelfth of the institution's annual budget, as approved by Parliament. Thereafter, the university is allowed to gather its own additional funding, which in 2009 amounted to 1.4 million leva, Dnevnik said.

The establishment in Veliko Turnovo is Bulgaria's largest military school, and is currently attended by just 17 cadets from Vietnam, while Bulgarian trainee officers were forced to take a holiday for the first time in the history of the establishment.

The unprecedented decision was implemented by the university rector, General Tsvetan Harizanov, who said that there was no other option but to suspend classes due to the accumulated debts. Consequently, the Bulgarian cadets are to prepare for the university exams, scheduled for March 1, at home. Only the Vietnam cadets and a group of extramural students with their teachers will remain at the university.