Caretaker Finance Minister Georgi Klisurski addressed questions regarding the Bulgarian Development Bank’s (BDB) capital reduction and the Investment Programme for Municipal Projects during a joint press conference with caretaker Regional Development Minister Nikolay Naydenov. Klisurski explained that the decision by the caretaker Cabinet to withdraw EUR 1.4 billion in unused capital from the BDB, which will return to the State budget, was timed to occur after the elections. He stated that announcing the measure before the vote would have made it a “political football.”
Caretaker Prime Minister Andrey Gurov had previously described the BDB as a “piggy bank” that issues large loans without ensuring full repayment.
The minister emphasized that the caretaker Government’s actions remain valid. Klisurski detailed the process, noting that the Cabinet decision was the first step, with subsequent approvals required from the Bulgarian National Bank and the European Central Bank. He asserted that the State, as the sole owner, retains the right to adjust the bank’s capital as deemed necessary.
Addressing the disbursement of funds, Klisurski expressed confidence in the BDB’s ability to pay out EUR 80 million approved by the Regional Development Ministry. He calculated that given the EUR 600 million capital injection in January and the EUR 460 million allocated for the Municipal Investment Programme, the bank possesses a surplus of EUR 140 million relative to the approved disbursement amount. He concluded that the future Government will prepare the draft budget, as the caretaker Government has approximately two weeks remaining in its term.
Topics: #caretaker #minister #cabinet
