Sofia - Bulgarian President Georgi Parvanov Wednesday vetoed the new election law, criticized by the opposition as undemocratic because it favours large parties.

With the limited authority as head of state, Parvanov has the right to veto a parliament act. Legislators, however, may return it to him unchanged and force him to enact it.

The new law, pushed through Monday by the ruling Socialist Party (BSP) and its allies, raised the number of votes a party must win in elections to qualify for parliament from 4 to 8 per cent.

Latest surveys indicate declining popularity of Prime Minister Sergey Stanishev's BSP, who dropped to under 20 per cent approval.

Leading popularity polls with 27 per cent is the new GERB party, led by the popular Sofia Mayor and former top cop Boyko Borisov. Founded after last elections, GERB is not represented in parliament. (dpa)