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The Bulgarian Socialist Party ( ) BSP is a political party in Bulgariamarker and successor to the Bulgarian Communist Party. The BSP is a member of the Socialist International and is currently led by Sergei Stanishev.

History

The Bulgarian Socialist Party was formed after the political changes of 1989, following the decision of the Bulgarian Communist Party to abandon Marxism-Leninism.

Its name was changed in April 1990, while the former Communist Party was still in power, during the mandate of Prime Minister Andrey Lukanov. Lukanov's term was marked by heavy food shortages and ended in December the same year, after civil unrest.

The Bulgarian Socialist Party formed a new government in 1995, headed by Prime Minister Zhan Videnov. Its term ended at the end of 1996, after the country entered into a spiral of hyperinflation, the most serious economic and financial crisis in its recent history. Large-scale demonstrations in the cities and a general strike prevented the formation of a new socialist government.

After two full terms out of power (1997-2005), the BSP won the national elections of 2005 by 33.98% and formed a coalition with the centrist National Movement Simeon II and the Movement for Rights and Freedoms. The cabinet was headed by BSP chairman Sergei Stanishev. The government adopted an economic model more consistent with right-wing policies (10% flat tax, trimming down governmental assistance programs, etc.), and initially built on the economic growth and stability achieved in previous years, while increasing state-paid salaries and pensions. However, in the second part of the coalition's term, Bulgaria, now a member of the European Union, lost millions of Euros of European financial aid in the wake of allegations of wide-spread corruption. The cabinet was also slow or unable to react to the encroaching world economic crisis and its term ended with a budget deficit after several successive surplus years.

In the 2009 national elections, the BSP lost catastrophically to GERB, obtaining a mere 40 out of 240 parliamentary seats (18%), and remained in opposition.

The current Bulgarian president, Georgi Parvanov, is a member and former chairman of the party.

Electoral Base

The party has its electoral base in the traditionally socialist rural areas.

List of chairmen



References

External links




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