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Claims that the Governor of the Bulgarian National Bank (BNB), Dimitar Radev, receives additional pay as a member of the European Central Bank (ECB) are false. Social media posts circulating on Facebook and TikTok suggested that following Bulgaria’s entry into the eurozone on January 1, 2026, Radev earns around 500,000 euros per year, including base salary, allowances, and payments for his formal membership in other organizations. Fact-checking by Factcheck.bg confirms that this is inaccurate.
Bulgaria’s accession to the eurozone grants the country a role in eurozone monetary policy through the BNB Governor. As of the beginning of 2026, Radev automatically became a member of the ECB Governing Council, the body responsible for determining main interest rates and monetary policy tools. In this role, he has the right to vote on about 70 percent of the council’s decisions, with his vote equal to those of other small eurozone member states such as Austria, Belgium, Luxembourg, Ireland, and Portugal.
An ECB spokesperson clarified that the governors of national central banks are not employees of the ECB. Their participation in the Governing Council is in their capacity as heads of their respective central banks, and they do not receive any remuneration from the ECB.
According to the BNB, Dimitar Radev’s 2026 monthly salary is 15,726 euros, equivalent to 30,900 BGN, or 188,712 euros per year. This figure covers all his compensation as Governor, including any additional material incentives. The salary is calculated at 70 percent of the average total monthly salary of bank managers, and total remuneration cannot exceed that average. Radev does not receive any additional pay for his ECB membership or other positions.
For comparison, in 2025, Radev’s monthly salary was 13,948 euros (27,434 BGN), meaning his 2026 salary reflects an increase as outlined in the BNB budget. In summary, the Governor of the BNB’s remuneration comes entirely from the Bulgarian National Bank and not from the ECB.
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