Caretaker Finance Minister Georgi Klisurski addressed questions regarding the reduction of the Bulgarian Development Bank’s (BDB) capital and the status of the Investment Programme for Municipal Projects. Speaking during a joint press conference with caretaker Regional Development Minister Nikolay Naydenov, Klisurski explained that the caretaker Cabinet timed the BDB capital reduction decision to occur after the elections. He stated that announcing the measure before the vote would have made it a “political football.”
The government approved the withdrawal of EUR 1.4 billion in unused capital from the BDB, with the funds slated to return to the State budget.
Caretaker Prime Minister Andrey Gurov had previously characterized the BDB as a “piggy bank” that issues large loans without ensuring full repayment. Minister Klisurski confirmed that the caretaker Government’s actions remain valid. He detailed the process, noting that the Cabinet’s decision was the first step, requiring subsequent approval from the Bulgarian National Bank and the European Central Bank.
He asserted the State’s full right to adjust the bank’s capital. Addressing concerns about the disbursement of EUR 80 million from the Municipal Investment Programme, Klisurski expressed confidence in the BDB’s ability to pay out the funds. He provided figures indicating that the bank has sufficient capital, possessing EUR 140 million more than the amount approved under the extension budget for municipal projects.
He concluded by noting that the future Government will prepare the draft budget, as the caretaker administration has approximately two weeks remaining.
Topics: #caretaker #minister #cabinet
