UPDATE 1-Socialists nominate Chobanov as Bulgarian finance minister
(Adds detail, background, quote)
SOFIA May 27 (Reuters) - Economist Petar Chobanov has been nominated as finance minister in Bulgaria's proposed Socialist-backed technocrat government led by Plamen Oresharski, which is expected to easily win a vote of confidence in parliament this week.
The European Union's poorest member state quickly needs a functioning government to hammer out a 2014 budget and lobby for EU funds to end an economic crisis and boost living standards.
Soft-spoken Chobanov, 36, is not a party member but was in charge of the ministry's forecasting agency in a previous Socialist cabinet until 2009, when Oresharski was a finance minister.
"I'm confident the professionals I've chosen will lead strong policy, stabilise the public and economic life in short term and create conditions for economic growth," Oresharski told a Socialist forum after unveiling his team.
The new cabinet will need to overhaul the opaque and inefficient energy sector and keep electricity prices at bay to avoid protests like the ones that toppled the centre-right GERB government in February.
Specifically, Chobanov must keep fiscal deficits low to protect the country's currency peg to the euro while finding ways to boost spending to help the needy avoid more protests.
The Socialists, backed by ethic Turkish MRF party, are expected to get the informal backing of the nationalist Attack party for the technocrat government to put an end to a political impasse after an inconclusive May 12 election.
Oresharski pledged to stick to small fiscal deficits and avoid raising new debt. (Editing by Alison Williams)
- Atheists face death in 13 countries, global discrimination: study
- Mandela signer hits back: I'm sign language champion |
- Missouri executes man for killing good Samaritan motorist in 1994
- Focus turns to Thai military, anti-government protesters tell them to pick sides |
- Google executives' planes saved millions in costs due to error - NASA