After a weekend that saw 2 more candidates entering the presidential race and thus muddying the political waters further, here is some more surprising news.
Caretaker government will send 12 bln lv Plan to Brussels
After months of delaying and waiting for Parliament approval, the cabinet has decided to expedite matters and send the document to the European Commision by 15 October. That means it should decide on a date for ending coal production in Bulgaria. The date suggested is 2036. The rationale for this plan, and whether the EU will approve it, are still unknown. If the EU sanctions it, Bulgaria will have access to over 12 billion levs, or 6 billion euro.
Fund of funds with a new Board of directors
After an open competition, announced by former Minister of Finance Assen Vassilev, the body which oversees 1.2 bln levs or 600 million euro in financial instruments has a new board. The only remaining member of the previous management is Kamen Slavov. Martin Gikov and Svetoslav Velikov are the new members and hail from the private banking sector: Unicredit and DSK.
Finance ministry to issue new debt
The new emission will be for 500 million levs (250 million euro) in 5-year bonds with 0% yield. This is record-breaking for the internal market, as well as for a single issue of debt in recent years. The new bonds will mark 1.3 billion levs in debt since the beginning of the year.