The day in 3 news: Six regions back to "green" Covid levels, Development bank gets new oversight, Inflation up to 2,5%, unemployment down to 5,7%

Economy Minister Kiril Petkov (in the centre) managed to get the approval of the National Bank to change the management of BDB

The day in 3 news: Six regions back to "green" Covid levels, Development bank gets new oversight, Inflation up to 2,5%, unemployment down to 5,7%

Economy Minister Kiril Petkov (in the centre) managed to get the approval of the National Bank to change the management of BDB

© Georgi Kozhouharov


"Corruption masked as lawfulness" and "systemic chaos" - were the most colourful phrases of caretaker Prime Minister Stefan Yanev to describe the situation in the state apparatus uncovered by his cabinet during its first month in power.

Today, cabinet ministers spoke to reporters about the challenges bequeathed to them by the GERB-led government. These included vote purchasing schemes not properly investigated by the police, wiretapping of political opponents, a poorly drafted Recovery and Sustainability plan and a healthcare system unprepared for the next likely Covid-19 wave. Talking about the virus, some good news:

Weekly new Covid cases back to "green" levels in six regions

According to the weekly bulletin of the National Center for Infectious and Parasitic Diseases, the Covid-19 situation has gradually normalized, with all regions falling into the "green" (20 or fewer new cases per 100,000 population) or "yellow" (20-60 new cases per 100,000 people) zone. The rate of spread of the disease is now similar to before October 2020, just before the country was hit hard by the second Covid wave.

The Health Ministry also announced it is opening four more external vaccination points in Sofia - one on Batenberg Boulevard (to operate on 16 and 18 of June) and three more at Sofia Airport, Serdika and Paradise malls (to operate on weekends).

National Bank approves new oversight for Bulgarian Development Bank

The Bulgarian National Bank (BNB) has approved a request by Economy Minister Kiril Petkov to substitute the managing and oversight committees of the Bulgarian Development Bank (BDB). The move comes after Mr Petkov had exposed blatant irregularities involving the bank, which was found to have links to several large companies that had close connections to oligarchs.

Two out of three members of the oversight organ of BDB refused to attend a public hearing organized by Mr Petkov and the managerial committee categorically refused to cooperate with the audit launched by the Ministry.

Unemployment reaches two-year low, inflation up 2,5%

Unemployment reached a two-year low of 5,7 percent in May, giving hopes for economic recovery after the Covid-19 pandemic, the Employment Agency announced on Tuesday. Only 186,000 people are registered as unemployed, down 14,000 compared to April and a whooping 109,000 fewer than in May 2020 when the first phase of the pandemic caused the most job losses.

At the same time, the inflation rate has increased significantly to 2,5 percent on an annual basis, the National Statistics Institute announced on Tuesday. Price hikes for clothes, shoes, food and beverages, as well as hotels and restaurants, are behind the rise.

"Corruption masked as lawfulness" and "systemic chaos" - were the most colourful phrases of caretaker Prime Minister Stefan Yanev to describe the situation in the state apparatus uncovered by his cabinet during its first month in power.

Today, cabinet ministers spoke to reporters about the challenges bequeathed to them by the GERB-led government. These included vote purchasing schemes not properly investigated by the police, wiretapping of political opponents, a poorly drafted Recovery and Sustainability plan and a healthcare system unprepared for the next likely Covid-19 wave. Talking about the virus, some good news:

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