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Bulgarian parliament backs 8 bln euro overseas debt plan

Reuters - UK Focus

(Changes currency in headline to euros from dollars)

SOFIA, Feb 25 (Reuters) - The Bulgarian parliament on Wednesday approved a government plan to raise 8 billion euros in new debt through overseas bond sales over three years, according to televised proceedings.

The European Union's poorest country, Bulgaria wants to tap markets twice this year to roll over existing debt and finance planned budget shortfalls, after the collapse of a local bank last year forced the government to contribute to repaying depositors. (Reporting by Angel Krasimirov; editing by John Stonestreet)