Only 21% of Bulgarians View Elections as Free and Fair
A recent global survey conducted by the "Gallup International" association sheds light on dwindling confidence in democratic governance across various nations, including Bulgaria
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
New rules designed to deconcentrate the investment of public funds in Bulgaria into private financial instituions have become effective.
The amendments were adopted with one of the last decisions of Bulgaria's former caretaker cabinet, chaired by ex-PM Marin Raykov, Monday last week.
They were published in Bulgaria's State Gazette Tuesday, from which day they are in force.
The main innovation is a new concentration ceiling for public funds invested by agencies, companies, hospitals and the like that have more than 50% state participation.
Such entities can now invest only up to 25% of their assets in one single private financial institution, with entities oblidged to check whether they have surpassed that limit every month.
The move was made by the Raykov cabinet after heightened public controversy regarding what some saw as excessive concentration of state funds in a few banks, most notoriously the Corporate Commercial Bank controlled by Tsvetan Vasilev.
On its part, Corporate Commercial Bank is known to be financing controversial New Bulgarian Media group, which holds a number of media outlets in the country.
The group is known to be controlled by businesswoman Irena Krasteva and her son Delyan Peevski, who is once again MP from the liberal Movement for Rights and Freedoms, which supports Bulgaria's new cabinet chaired by PM Plamen Oresharski.
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