Bulgaria's President schedules parliamentary elections for Oct 5, parliament to dissolve on Aug 6

By bne IntelliNews June 30, 2014

Bulgarian President Rossen Plevneliev will dissolve parliament and appoint a caretaker government on Aug 6 to rule until a snap parliamentary election on October 5, Plevneliev told a news conference on Sunday (June 29) after more than four hours of talks with political party leaders, the finance minister and the central bank governor.

Plevneliev said that the parties represented in parliament have ruled out the option of forming a new government under the current assembly after the minority cabinet of PM Plamen Oresharski, backed by BSP and MRF, resigns. The constitution stipulates that the president has to ask the party that has the most seats in parliament (in this case CEDB) to form a new cabinet and if it refuses to do that the mandate must go to the second largest party. However, since the political leaders have already endorsed the interim government option, this procedure will be skipped.

The president will consult all parties represented in the national parliament and the European Parliament to discuss the priorities of Bulgaria's institutions.

The socialist BSP embraced the idea of snap polls after their junior coalition partner, ethnic Turk MRF, sought to increase its governing power following BSP's wide-margin loss in the European Parliament elections to centre-right opposition CEDB. Corporate interests and issues related to the controversial multibillion euro South Stream gas pipeline project might have also played a role in the BSP-MRF breakup.

The front-runner to be Bulgaria's next prime minister is former PM Boyko Borissov, leader of CEDB. The distribution of votes in the EP elections indicated that early polls in May will yield a fragmented parliament. When applied to the 240-seat parliament, the share of votes won by local parties show that CEDB will not be able to score a majority victory. Borissov has said that he would not enter any coalition government if he failed to win an outright majority.

The government of PM Oresharski was sworn in a year ago after the previous government, led by CEDB, resigned amid street protests against high electricity bills.

Related Articles

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Bulgarian prosecutors charge former foreign minister in procurement case

Bulgaria's specialised anti-corruption unit has charged former Foreign Minister Daniel Mitov with violating the laws on public finance and public procurement, ... more

Bulgaria’s antitrust regulator allows BAT’s €100mn acquisition of Bulgartabac assets

The Commission for Protection of Competition (CPC) has allowed the €100mn acquisition of assets of Bulgaria’s Bulgartabac Holding by British American Tobacco (BAT), a notice on CPC’s website ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss