Bulgarian MPs Set Upper Limits on Wages at Financial Regulator FSC
The Bulgarian legislators have imposed an upper limit for salary of the head of the country’s financial regulator, making it equal to the wage of the Speaker of Parliament.
Bulgaria's new premier Boyko Borisov has apparently given up plans to oust the central bank governor, reelected in a highly controversial parliamentary vote just before the elections.
The reelection of Ivan Iskrov, member of the centrist party of Simeon Saxe-Coburg, at the end of May was believed to be a trump card for pressing the formation into making concessions in the sharing out of key posts in the state among members of the ruling coalition.
This scenario failed after the former ruling Socialist-led coalition suffered a crushing defeat in the general elections on July 5, while the centrist party of Saxe-Coburg even did not manage to make it to the next parliament.
The term of the current governor of the Bulgarian National Bank Ivan Iskrov expires on October 9. Under local legislation a new governor can be appointed no earlier than three months and no later than two months before the term of the previous term expires.
This penned the date for new appointment no earlier than July 9, when the previous parliament was already dissolved, and no later than August 9, when the new parliament is in a summer recess.
It was not immediately clear what brought about the U-turn in GERB firm initial decision to replace BNB governor. All possibilities for ousting Ivan Iskrov will be irreversibly gone after October 9 when his new term starts.
Reports have been pointing to Petar Andronov, chief executive of EIBank, majority-owned by Belgian KBC, as his most likely successor.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022