Parliament Budget Committee rejects President’s veto on party financing

Parliament's Budget Committee rejected the President's veto on changes to the State Budget Act for 2019, which provide for political parties to be financed by private companies. With 12 votes “in favour” and 6 “against” on July 18, MPs adopted the amendments to the State Budget Act.

The arguments for the introduction of financing from private companies were two - with the reduction of the subsidy of BGN 11 per actual vote received in the election to 1 BGN - the parties remain without money. Moreover, according to the Budget Committee Chair Menda Stoyanova, at the moment the parties are financed by companies anyway, but this happenes behind the scenes.

According to the arguments of the opposition Bulgarian Socialist Party, financing of parties from business will make them dependent, which is contrary to the Constitution.

Bulgarian President Roumen Radev on July 16 vetoed the 2019 Budget Act revision that cut the state subsidies for political parties and coalitions that gained more than 1%t of the vote at the most recent elections from 11 BGN to 1 BGN.

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