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 decided to reduce the BDB’s capital by EUR 1.4 billion, with the funds returning to the state budget. He stated that the timing of this decision was strategic, ensuring it occurred after the elections to prevent it from becoming a “political football.” He emphasized that the caretaker Government remains in office, validating its actions.
The minister noted that the State is the sole owner of the BDB’s capital and retains the authority to adjust it. While the Cabinet’s decision was the initial step, Klisurski clarified that mandatory approval from the Bulgarian National Bank and the European Central Bank is required. He expressed confidence that regulators would confirm the BDB’s capital adequacy following the reduction.
Addressing concerns about the disbursement of EUR 80 million for municipal projects, Klisurski assured the public that the funds would be paid out. He detailed the BDB’s financial standing, noting that despite the EUR 460 million allocated for the municipal programme, the bank possesses sufficient capital reserves. He contrasted the current situation with previous years, concluding that the BDB maintains substantial capital reserves relative to its immediate disbursement obligations under the municipal program.
Klisurski concluded by stating that the future Government will prepare the draft budget, as the caretaker Government has limited time remaining.
Topics: #caretaker #minister #cabinet
