Bulgaria’s Parliament backs President’s veto on texts of the Privatisation Act

Bulgaria’s Parliament on 26^th of July voted to support President's veto on texts of the Law on Privatisation and Post-Privatisation Control adopted by the National Assembly on 18^th of July 2018.

In the voting, 185 MPs were against, and two abstained. The law was then returned to a new vote. MPs then repealed the disputed texts of the law - paragraphs 3 and 4. Paragraph 3 limited the duration of specific obligations of buyers under privatisation contracts within aperiod of 5 years.

With paragraph 4, this new rule would also have also applied to already concluded privatisation contracts. In the debates on the veto, MPs from GERB (the majority partner in the ruling coalition), the opposition Bulgarian Socialist Party and the United Patriots (junior partner in the ruling coalition) exchanged allegations of lobbyism and ties with the oligarchy. The issue of the responsibility for privatisation has also been raised.

On 24th of July, Bulgaria's President Roumen Radev vetoed the Privatisation Act amendments passed by Parliament last week, on the grounds that the amendments would harm public interest.

The objections of Radev were against § 3 and § 4, which may lead to a review of already signed privatisation contracts that has negative impact on the state and the society.