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. Klisurski explained that the caretaker Cabinet opted to reduce the BDB’s capital by EUR 1.4 billion—with the funds returning to the State budget—during the weekly meeting on Wednesday to prevent the decision from becoming a political issue before the elections. He stated that the caretaker Government’s actions remain valid, emphasizing that the timing was strategic.
Klisurski noted that the State is the sole owner of the BDB’s capital and possesses the authority to adjust it. While the Cabinet initiated the reduction, he specified that subsequent approvals from the Bulgarian National Bank and the European Central Bank are mandatory steps. Regarding the funds for municipal projects, Klisurski expressed confidence in the BDB’s disbursement capabilities.
He detailed that the bank received a EUR 600 million capital injection in January, against a total of EUR 460 million approved for the municipal program under the extension budget. This leaves the BDB with a surplus of EUR 140 million relative to the program’s needs. The minister further clarified the bank’s financial standing, comparing the current situation to the previous year.
He confirmed that despite the capital reduction, the BDB retains significantly more capital than it held at the same time last year. Klisurski 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
It sounds like they are trying to avoid answering the actual questions by bringing up the election timing.