Why Bulgaria is a Top Choice for New Businesses: Low Taxes and Qualified Labor
Bulgaria is emerging as a top destination for starting a new business, praised for its favorable conditions
The seventh parliamentary elections in Bulgaria in the last three years are scheduled for October, following the unsuccessful attempts to form a regular government from the current Parliament. The specific date will be either October 13, 20, or 27, depending on how quickly President Rumen Radev initiates the procedure to appoint a caretaker government.
The President is expected to issue a decree to schedule the elections two months in advance, simultaneously appointing a caretaker government. With the third mandate to form a regular government now returned unfulfilled, Article 99 of the Constitution comes into play. This article mandates the president to consult parliamentary groups, propose a candidate for caretaker prime minister, appoint a caretaker government, and schedule new elections within a two-month period.
Currently, Dimitar Glavchev, chairman of the Audit Chamber, has publicly stated his willingness to serve as caretaker prime minister if offered the position. Speaker of the Parliament, Raya Nazaryan, has declined the role. Potential candidates also include deputy chairmen of the Audit Chamber, Gorica Grancharova-Kozareva and Toshko Todorov, though their terms expired in 2022.
The National Assembly has not elected a new ombudsman or deputy after the previous ones left. The Governor of the Bulgarian National Bank (BNB), Dimitar Radev, has cited legal and practical reasons against taking the role of caretaker prime minister, stating conflicts with European legislation and the inappropriate involvement of the central bank in politics.
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