Bulgarian National Bank

In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023.

Bulgaria is grappling with a sharp increase in counterfeit currency, with the Bulgarian National Bank (BNB) reporting a concerning surge in fake banknotes, particularly those of 100 BGN denominations.

As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape.

The Bulgarian Socialist Party (BSP), under the leadership of Kornelia Ninova, has firmly declined invitations for discussions regarding their potential participation in a caretaker cabinet. Ninova stated that proposing ministers, deputy ministers, and agency heads is the responsibility of caretaker Prime Minister Dimitar Glavchev, not political parties.

Bulgarian banks have injected approximately 3.7 billion in additional credit resources into the housing market over the past year alone, with a staggering total of over 8 billion in the last three years, according to Lachezar Bogdanov, chief economist at the Institute for Market Economy, speaking on Nova TV.

In a swift decision that sets the stage for a new caretaker government, the Committee on Legal Affairs in Bulgaria has voted in favor of appointing Dimitar Glavchev as Prime Minister, also serving as the Chairman of the Audit Chamber.

President Rumen Radev has been actively engaging with all potential candidates for the interim prime minister position within a span of just two days. Despite public declarations of willingness to adhere to constitutional procedures and the President's decision, none of the candidates expressed a clear desire to take on the responsibility.

As President Rumen Radev continues his quest to appoint an acting prime minister, Bulgaria encounters obstacles as potential candidates refuse the offer. Ombudsman Diana Kovacheva and Deputy Governor of the Bulgarian National Bank (BNB) Petar Chobanov are the latest to decline, complicating the country's political landscape.

President Rumen Radev expressed his concerns about the limited options available for selecting a caretaker prime minister, highlighting the challenges in the appointment process. The President's remarks came amid discussions to appoint a caretaker government and schedule new elections within two months, as mandated by Article 99 of the Constitution.

Bulgarian President Rumen Radev has initiated discussions with potential candidates for acting prime minister, marking a pivotal moment in the country's political landscape. With the resignation of Deputy Ombudsman Elena Cherneva Markova, the list of possibilities has narrowed to nine, prompting intense deliberations at the highest levels of government.