Djankov: The adoption of the Pact may be postponed for after the elections

“I would not allow an important project like such as the Financial Stability Pact to become a bargaining chip in the political pre-election campaigns,” Deputy PM and Finance Minister Simeon Djankov said immediately after his one-hour meeting with President Georgi Parvanov yesterday. The Finance Minister underlined that he was ready to postpone the adoption of the Pact for after the presidential and local elections in the autumn and accept changes in the initial idea.

According to him, it would be better to launch a more restrictive idea at the beginning and then reach a consensual decision in Parliament. The teams of Parvanov and Djankov debated on the Financial Stability Pact and whether the proposed fiscal parameters should be enshrined in the Constitution or in the State Budget Act. “This Pact is so important for Bulgaria that the majority of MPs will agree with it, but we must be sure that what will remain as a final draft is perfect from a legal point of view as well,” said Djankov.

While Deputy PM Djankov was explaining to journalists the progress of negotiations between the two sides, Presidnet Parvanov met with representatives of the economic team of the Coalition for Bulgaria Parliamentary Group to discuss the fiscal measures proposed by the Government and their eventual enshrinement in the Constitution. Later on, the Head of State issued a formal statement, announcing that he would convene the Consultative Council on National Security to discuss the risks and challenges to Bulgaria’s financial, economic and social stability.

Earlier yesterday, the Parliament decided that the amendments to the Constitution regarding the Financial Stability Pact should be discussed at three readings. With 180 votes, or three quarters of the votes of MPs,

The amendments will be adopted en bloc at first reading with 180 votes, or three-quarters of the MPs votes.

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