In a recent announcement, the Bulgarian National Bank has confirmed that the base interest rate for February will stand at 3.79%, maintaining the status quo from January. This decision follows a marginal reduction of 0.01% made in December 2023
Dimitar Radev Elected Governor of Bulgarian National Bank
Dimitar Radev has been elected Governor of the Bulgarian National Bank (BNB).
Bulgaria’s Parliament backed Radev out of a total of four candidates for the post.
Outgoing BNB Governor Ivan Iskrov was voted out of office by Parliament shortly before his successor was elected.
A total of 174 MPs voted unanimously to remove Iskrov from office, with no votes against and no abstentions, according to reports of the BGNES news agency.
Radev, a nominee of center-right party Citizens for European Development of Bulgaria (GERB) and right-wing formation the Reformist Bloc, was backed by 130 MPs, with 16 votes against and 34 abstentions.
Biser Manolov, a nominee of the Reformist Bloc, was supported by 37 MPs, with 18 votes against and 118 abstentions.
Grigorii Vazov, a nominee of nationalist coalition the Patriotic Front, received 43 votes in favor, with 12 votes against and 118 abstentions.
Viktor Yotzov, a nominee of the center-left Alternative for Bulgarian Revival (ABV), was backed by 44 MPs, with 22 votes against and 104 abstentions.
During the hearing at the parliamentary committee on budget and finance, all four candidates were unanimous that Bulgaria’s accession to the euro zone was a strategic goal and that the assets of Bulgaria’s banking system had to be examined.
Dimitar Radev has been working at the International Monetary Fund (IMF) for 14 years, heading missions in the sphere of public finance management in over 20 countries.
He has 35 years of experience as a financier.
He was Deputy Finance Minister in six governments after 1991.
Radev's 6-year term in office as BNB Governor starts on Wednesday, according to reports of dnevnik.bg.
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