Economist Vladimir Karolev said the Bulgarian National Bank had made a mistake by not admitting that its actions were politically motivated.
Commenting on events around the Corporate Commercial Bank (KTB), which is to be stripped of license by the central bank, he told private national channel TV7 that "politicians should not say there are problems with the banking system, because there are none."
"With financial expert Emil Harsev we are unanimous that in the case of the bank, we are witnessing the utter helplessness of the state in all its forms and the dependence of BNB on politicians," Karolev added.
He stressed the Omani State General Reserve Fund (SGRF) was already seeking "anyone in Europe" to become a majority shareholder at KTB, in order "to save its money and assets".
Harsev, who took part in a discussion alongside Karolev, pointed that the market believed KTB could be bailed out even without taxpayers' money.
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
Bulgaria's Gross External Debt stood at approximately EUR 42,410 million by the end of October 2023, marking a 3.7% decrease from the same period in 2022, according to data released by the Bulgarian National Bank (BNB)
During a parliamentary budget committee meeting, Dimitar Radev, the Governor of the Bulgarian National Bank (BNB), advocated for a strategic fiscal approach, proposing a 10% buffer allocation within the budget for 2024
In a recent meeting between the Economic and Social Council (ESC) representatives and the Bulgarian National Bank (BNB) Governor Dimitar Radev, the ESC reaffirmed its staunch support for Bulgaria's accession to the eurozone by January 1, 2025
A significant shift is on the horizon for Bulgaria's financial landscape as the Bulgarian National Bank (BNB) gears up for its integration into the Eurozone by January 1, 2025
Amid escalating tensions and a renewed Russian offensive, the United States is poised to deliver much-needed military aid to Ukraine following prolonged delays and uncertainties, signaling a crucial lifeline for the embattled nation in its struggle agains
Yesterday, Acting Prime Minister Dimitar Glavchev proposed to President Rumen Radev to relieve the Acting Minister of Agriculture Kiril Vatev from his post and to appoint Georgi Takhov as head of the department, the government information service reported
As the Russo-Ukrainian war enters its third year, there is considerable anticipation across Europe for its resolution, given the substantial human and material toll on both sides
Ecuador has officially abandoned its plans to send Soviet-style weapons to the United States, which were intended for transfer to Ukraine, citing its stance on international armed conflicts
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
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