President Rumen Radev has started talks with parties in an attempt to find the necessary support to form a cabinet before the last constitutional opportunity - which involves handing over the third mandate. Still, it is uncertain who will receive it - the Bulgarian Socialist Party, Democratic Bulgaria, or (this is more unlikely) There is Such a People.
TISP favors cabinet of "experts", BSP disagree
The co-chairman of Democratic Bulgaria, Hristo Ivanov, confirmed that his formation is ready to join efforts to create a government both as the recipient of the mandate and as a participant in negotiations. Iva Miteva from TISP said that his party still hopes that forming a government is possible. However, "There is Such a People" favors a cabinet of "experts", not well known politicians, according to Toshko Yordanov, TISP's parliamentary leader.
In response to President Radev's questions, Yordanov stressed that even if he were to receive a mandate, "There is Such a People" would not propose a candidate as a PM candidate. BSP's leader Kornelia Ninova insisted on just the opposite - she said a possible government with the third mandate should be political.
At the end of next week, President Radev will decide which party will be in receipt of the mandate.
Inflation hit a 24-year high of 16.9% in June y-y
Inflation, which is forecast to accelerate further, reached 16.9% in June on an annual basis, according to NSI data. That's a two-decade high that even surpasses the global financial crisis in 2008. A higher level of inflation has not been recorded in Bulgaria since 1998.
The price rises are now spreading across all sectors of the economy, most noticeably in the transport sector, where prices are up 37.5%. Food items have become nearly 24% more expensive over the past year.
ICGB will manage the interconnector with Greece
The national energy regulators of Bulgaria and Greece have certified the company to manage the interconnector with Greece. ICGB will now have the authority to transport natural gas through the pipeline. However, it is not yet clear when it will officially start working and when gas will come from Azerbaijan. But this is forecast to happen before the start of the heating season.