site.btaParliament's Budget Committee Approves Increasing Government Debt's Ceiling from BGN 7.3 Bln to BGN 10.3 Bln 

Parliament's Budget and Finance Committee approved the incumbents' proposal to include in the 2022 draft budget update an increase of the government debt's ceiling from BGN 7.3 billion to BGN 10.3 billion. 

"We voted for increasing the debt's ceiling so that there is liquidity in the State in times of crises, regardless of who will be in power," Movement for Rights and Freedoms MP Jordan Tzonev said. 

Initially, the Committee approved EUR 150 million for new loan agreements for investments by Bulgartransgaz in the amount of EUR 382 million as part of three projects. The same amount was approved under new loan agreements for investments by Bulgargaz. Socialist MP Rumen Gechev asked how much of these funds will go towards guarantees under investment projects and how much will go for pre-payments of natural gas supplies. 

Outgoing Finance Minister Assen Vassilev said that Bulgargaz must pay for LNG supplies in advance. The other thing that must be taken into account is that Sofia's Toplofikacia heating utility continues to not regularly pay Bulgargaz, he said. 

The proposal made by Gechev and by the Committee's Chair Lyubomir Karimansky [There Is Such a People] was finally adopted, according to which the money is designated for new loan agreements for payments to Bulgargaz and new loan agreements for investments by Bulgartransgaz.