The day in 3 news: Pollsters predict knife-edge result on Sunday; Kovesi probes BGN 1 billion worth of abuses; Changes in FMFIB management

The day in 3 news: Pollsters predict knife-edge result on Sunday; Kovesi probes BGN 1 billion worth of abuses; Changes in FMFIB management

© Велко Ангелов


Final polls point to cliffhanger election

The outcome of Sunday's parliamentary elections could hinge on the undecided, according to pollsters in what will be the fifth such election in the last two years.

Expectations are for a low turnout, a close contest for first place and, as yet, many deciding who to vote for on the day itself - if they vote at all, of course. Hence reversals on election itself are highly possible. The new parliament is set to have five or six parties, and attempts to form a government will again be fraught as a coalition of more than two formations will likely be needed.

Kovesi looking for nearly BGN 1 billion in violations

The European Prosecutor's Office is investigating 143 possible frauds with European funds or VAT in Bulgaria worth a total of 495.3 million euros (over BGN 968 million), claims a report published on Wednesday by the institution led by Laura Kovesi.

The European Prosecutor's Office has announced that it has begun raiding addresses in Sofia as part of an ongoing investigation into possible corruption and misuse of EU funds for the restoration of the historic center of the city, including the rearrangement of the iconic yellow paving stones, the repair of Alexander Nevsky Square and Blvd. "Tsar Liberator".

Fund of Funds: a quiet change in management

The State Fund of Funds (FMFIB) will change its management board shortly before changing the supervisory board. Quickly and without publicly inviting those who wish to manage over BGN 1 billion.

This comes after Acting Minister of Innovation and Growth, Alexander Pulev, returned the two-tier form of management to the fund - a decision criticized by entrepreneurial and fund associations throughout the country.

Currently, the management board of the Fund of Funds includes the three people who were previously on the board of directors of the institution: Martin Gikov, Kamen Slavov and Pavel Lisev. Martin Gikov also serves as the chairman of the management board.

FMFIB's main activity is the structuring and management of financial instruments co-financed by the European Structural and Investment Funds during the 2014-2020 programming period.

Final polls point to cliffhanger election

The outcome of Sunday's parliamentary elections could hinge on the undecided, according to pollsters in what will be the fifth such election in the last two years.

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