Amendments to the Bank Deposits Protection Act Increase the Guaranteed Amount to BGN 100,000
October 30, 2008
The amended law stipulates for the increase of the guaranteed bank deposits for individuals (natural persons) from BGN 40,000 to up to BGN 100,000. The law does not cover pension and social security funds with the exception of the State pension fund collecting additional mandatory contributions for those born after 1969.
The National assembly passed a decision asking the National Bank Governor and the Prime Minister to submit information regarding the economic situation in the country and the resulting policies, every three months. The decision was proposed by the ruling coalition with regard to the global financial crisis. The decision asks the government to provide adequate measures in the 2009 budget to protect the macroeconomic and financial stability and the economic growth in the country.
MPs passed the Energy Efficiency Act. They debated at first reading the amendments to the Radio and Television Act and adopted the law for the foundation of the State Fund for Guaranteeing the Stability of the Pension System, (Silver Fund).