Small Businesses Face Toughest Challenges Ahead of Bulgaria’s Euro Adoption in 2026
Small and medium-sized enterprises in Bulgaria are expected to face the greatest difficulties once the euro becomes the country’s official currency in 202
President Rumen Radev has formally declined to appoint Denyo Denev as head of the State Agency for National Security (SANS), citing concerns over the influence of the political party “DPS-New Beginning” on the current government. According to Radev, the ruling coalition is increasingly dominated by this party, which he said is not only directing the mandate holder but also exercising significant control over the entire cabinet.
Commenting on the fifth vote of no confidence centered on alleged failures in security policy, Radev criticized the coalition for substituting the voters’ choice with political maneuvering. He noted that the ruling party’s confidence - that the votes of no confidence would fail due to opposition fragmentation - demonstrates a complacency that could be misleading. “Government stability depends not only on parliamentary support but also on conditions outside parliament. Bulgarians are growing poorer, justice seems absent, and public resentment is rising,” Radev said.
The president explicitly identified “New Beginning” as the political force exerting control over both the mandate holder and the government. He chose not to directly respond to personal attacks from the party’s leader (Delyan Peevski), who labeled him a “false savior,” instead highlighting what he sees as the disconnect between certain political leaders and the realities of citizens’ lives. “They criticize others for being out of touch, yet one must ask where and how the leader of this party lives, and how he travels,” Radev remarked.
Regarding the Denyo Denev nomination, Radev confirmed that the coordination process with the government has concluded. “I have already provided a written response - an unequivocal ‘no,’” he stated, signaling the formal end of his engagement on the appointment.
Radev also addressed comments from GERB leader Boyko Borissov, who suggested the president sought to undermine the German defense contractor Rheinmetall’s investment in Bulgaria. The president dismissed these claims, emphasizing that he facilitated the company’s entry into the country and promoted investment opportunities. “Borissov should be grateful that I convinced Mr. Paperger to invest here. How the investment proceeds is a matter for the executive branch. My role is to respond when irregularities or abuses are signaled to the presidential institution,” Radev said.
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