Parliament adopted amendments to the State Debt Act: New investment opportunities in government securities

Parliament gives the green light to amendments to the State Debt Act

The National Assembly adopted at first reading amendments to the State Debt Act, submitted by "Progressive Bulgaria". The bill was supported by 181 votes "in favor".

"If Bulgarian individuals buy government securities, the interest remains with us and we keep the capital in the country," commented Konstantin Prodanov.

Key highlights of the adopted amendments:

• Introduction of a clear legal framework for the status and control of primary dealers of government securities.
• Possibility for individuals to acquire government securities without paying fees and commissions, which will be covered by the state budget.
• Creation of an electronic system for registering and servicing trading in government securities.
• Implementation of standardized collective action clauses in accordance with EU requirements.

The bill by GERB-SDS, providing for the participation of "Bulgarian Posts" and a direct platform without primary dealers, did not gather enough support.

The deputies emphasized that the measure is useful for the economy, as it absorbs excess liquidity and reduces inflationary pressure. Discussion of specific deadlines for building the electronic system is forthcoming between the two readings.