President Radev Vetoes Counter-Corruption and Unlawfully Acquired Asset Forfeiture Act

President Radev Vetoes Counter-Corruption and Unlawfully Acquired Asset Forfeiture Act

President Radev Vetoes Counter-Corruption and Unlawfully Acquired Asset Forfeiture Act

Sofia, January 2 (BTA) - Bulgarian President Rumen Radev has imposed a suspensory veto on the Counter-Corruption and Unlawfully Acquired Asset Forfeiture Act, contesting it in principle and in its entirety, the Presidential Press Secretariat said on Tuesday.

The Government-proposed law was passed conclusively by Parliament on December 20, 2017. The National Assembly can override the presidential veto by a majority of more than half of all 240 MPs, or 121 votes.

"Corruption is a multi-dimensional negative phenomenon and private economic interests use it to take control of key levers of State governance, exerting an impact on decision-making processes for their own benefit through unlawful and often covert forms of pressure or influence. Corruption curbs fundamental civil rights and freedoms, erodes confidence in the State, impedes economic development and investments, and steals from the prosperity of the nation," the reasoning of the veto reads.

According to the head of State, counter-corruption cannot be confined to the measures provided for in the law as adopted. "These measures, albeit necessary, are insufficient for the effective suppression of corruption that the public expects."

The reasoning argues that the law is essentially inconsistent with the objective it sets itself: effective countering of corruption, and deviates from fundamental principles of the Constitution and international treaties to which Bulgaria in a party.

Source: Sofia