site.btaGERB Dismisses Socialists' Criticism for New Debt Plans

ESD 17:10:01 11-06-2017
PP1709ES.104
104 ECONOMY - DEBT - SOCIALISTS - GERB

GERB Dismisses Socialists'
Criticism for New
Debt Plans


Sofia, June 11 (BTA) - GERB dismissed Sunday criticism by the opposition Socialist party for plans to take out new debt. "Under the three-year budget forecast the deficit will be shored up and the budget will be balanced until 2020. In view of these projections, no new debt will be raised within the Parliament-approved multiannual programme, which will lead to debt reduction over the next few years," said Menda Stoyanova, chair of the parliamentary budget committee, in a statement, released by GERB's press office.

On June 9, Bulgarian Socialist Party (BSP) leader Kornelia Ninova lashed out at the government for asking the National Assembly to approve a 200 million euro loan, which the Socialists see as more burden for taxpayers. "The previous GERB government left the Bulgarian people with a 10 billion leva [5 billion euro] loan to repay, and now it started all over again - on Thursday, [the new GERB government] decided to take out the first loan of its new term in office. The Bulgarian people have to pay for all shady dealings of the GERB party," BSP said in a declaration.

Stoyanova dismisses as untrue Ninova's statements that the government has raised a new loan of 200 million euro and will raise another 6 billion leva by the end of its term.

Stoyanova recalls that in 2016 the government held talks with the Council of Europe Development Bank (CEB) and agreed a framework agreement for securing a low-interest loan for co-financing of EU-funded projects during the current programme period. The funds are earmarked and conditioned on EU funds absorption.

"If EU funds get suspended, this money wonТt be spent but this is one of the good ways to take advantage of EU solidarity and to develop our society," says Stoyanova. LN/PP