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If I could say when the global financial crisis would be over, I would be awarded a Nobel Prize", Iskrov said. Photo by BGNES
The Bulgarian banking system is stable, despite the increase of bad credits.
Bulgaria's Central Bank (BNB) governor, Ivan Iskrov, made this statement Saturday.
"In the first three months of 2009 the banks in Bulgaria increased their capital, due to their good work", Iskrov said.
Despite this, the rate of bad credits is growing, which is common occurrence in the state of a declining economy.
"If I could say when the global financial crisis would be over, I would be awarded a Nobel Prize", Iskrov answered a journalist's question.
A month ahead of the general elections, Bulgaria's parliament reelected on Thursday Ivan Iskrov for another six-year-term as BNB governor.
The new mandate will be effective as of October 10, the deputies voted.
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