MPs approve government debt of 3.8 billion euros

The National Assembly approved increasing the ceiling of state debt to 3.8 billion euros, ignoring opposition criticism that the Ministry of Finance had not provided detailed estimates to justify the need for such a large financial resource. The decision was adopted with the votes of the ruling Progressive Bulgaria party and DPS.

Assen Vassilev, a former finance minister from We Continue the Change party, proposed reducing the amount. “Three billion and 800 million is an awful lot of money without a written record of what it will be used for,” he commented, proposing that the debt be reduced to 2.1 billion euros.

Deputy Finance Minister Lyudmila Petkova defended the need for the new financing, arguing that in the coming months the state must ensure significant payments under the Recovery and Resilience Plan. "Funds are needed for pensions, social payments, capital expenditures and a reserve for unforeseen expenses," she added.

Editor: Diana Tsankova