Caretaker Finance Minister Georgi Klisurski addressed questions regarding the Bulgarian Development Bank (BDB) and the Investment Programme for Municipal Projects during a joint press conference with caretaker Regional Development Minister Nikolay Naydenov. Regarding the BDB, the caretaker government’s cabinet approved the withdrawal of EUR 1.4 billion in unused capital, which will return to the State budget. When questioned about the timing, Minister Klisurski stated that the decision was timed to occur after the elections to prevent it from becoming a “political football.” He emphasized that the caretaker government remains legally operational, validating its actions.
Klisurski explained that the State is the sole capital owner of the BDB and possesses the authority to adjust its capital. He outlined a two-step process: the cabinet’s decision, followed by mandatory approval from the Bulgarian National Bank and the European Central Bank. The minister expressed confidence that both institutions would confirm the BDB’s capital adequacy post-reduction.
Addressing the municipal funds, Klisurski confirmed that the BDB is managing the disbursement of EUR 80 million under the Investment Programme. He provided details on the bank’s liquidity, noting that the BDB possesses EUR 140 million more capital than is required for the entire amount approved under the Municipal Investment Programme. He further clarified the bank’s capital standing, stating that after the reduction, the BDB maintains significantly more capital than the previous year.
The minister concluded by noting that the future government will draft the regular budget, as the caretaker government has approximately two weeks remaining in its term.
Topics: #caretaker #minister #cabinet
