Bulgaria's Main Ruling Party Loses Majority in Sofia Municipal Council

With 75 % of the ballot papers processed, it seems that Bulgaria's main ruling party, GERB, will lose the majority it has enjoyed in the municipal council of Sofia.

Prior to the local elections, which were held in Bulgaria on Sunday, GERB had 33 out of 61 municipal councillors in the capital.

'Socialist Beer' Adds Appeal to Traditional Buzludzha Fest

A "Socialist Beer" is being featured at the traditional Mount Buzludzha fest held by Bulgarian Socialist Party (BSP) members, activists, followers and sympathizers this Sunday.

The year 2014 is the 124th anniversary since the BSP was set up. Private national bTV station reports that the beer, brewed specially for the socialist party, is available for just BGN 1.20 (EUR 0.60).

Key Bulgarian Opposition Official Quitting Party

Strahil Angelov, a former lawmaker and now deputy head of one of the Bulgarian Socialist Party (BSP)'s local organizations in the capital Sofia, is leading the party.

Along with two other BSP members, Iskra Neycheva and Bozhidar Petrov, Angelov is quitting due to the lack of development within the party which, in his words, is failing to move forward in a constantly changing world.

Bulgarian Parliament Rejects Proposed Limitation of Sanctions on Russia

The Bulgarian Parliament rejected the proposal of the opposition BSP party to discuss the possible limitation of further EU sanctions against Russia on Wednesday.

Last week, the parliament similarly refused to include the discussion of the proposal in its weekly agenda.

Bulgarian Parliament OKs EUR 1.5 B Bridge Loan

Lawmakers have given the thumbs up on a six-month bridge loan worth BGN 3 B (EUR 1.5 B).

The country has picked Citibank NA (London), HSBC Bank PLC, and local units of Societe Generale and UniCredit to provide the sum.

Under the agreement signed October 8, Bulgaria is granted a bridge loan of EUR 1.5 B to be paid off with government securities in 2015.

Budget Update Bill to Be Debated in Parliament Committee

A bill to overhaul the 2014 budget will be put forward for discussion in the provisional Budget and Finance Committee of BUlgaria's Parliament.

The draft legislation was submitted to the National Assembly after the government adopted its text on Tuesday.

It envisages an increased budget deficit of BGN 2.992 B (3.7 percent of GDP) and a cap of this year's debt worth BGN 4.5 B.

GERB to Receive Mandate to Form Bulgaria's Next Gov't

Bulgarian President Rosen Plevneliev is to give GERB leader Boyko Borisov the government mandate on Wednesday.

The move follows a few days of consultations with political parties at Bulgaria's Presidency.

Plevneliev has to hold the last round of talks, attended by the Bulgarian Socialist Party (BSP), prior to meeting Borisov.

Bulgarian Socialists OK Stanishev’s Bid for 2 Term as PES President

The Bulgarian Socialist Party (BSP) has nominated Sergey Stanishev for a second term in office as President of the Party of European Socialists (PES).

Stanishev, who gave up his BSP Chair seat on Sunday after 13 years at the post, was backed by the majority of delegates at the 48th Congress of BSP and his bid was opposed by one BSP member, with two abstentions.