GERB discusses first mandate
Representatives from GERB, as the largest faction in the new parliament, have met President Rumen Radev for a formal consultation regarding the formation of a new cabinet. GERB, led by their leader Boyko Borissov, insisted on forming a coalition with WCC-DB.
"It would be a shame not to take advantage of our majority in the parliament (together with WCC-DB), simply because a vote or two would get lost," said GERB leader Boyko Borissov.
The leaders of WCC-DB have repeatedly ruled out any coalition with GERB.
Mutual funds generate more interest
Bulgarians have increased their investments of savings in mutual funds, according to an analysis conducted by Kapital Weekly. A comparison is drawn between 2012, when for every BGN 100 deposited, BGN 1.02 was invested in the equity markets, while in 2022, the average investment amount increased to BGN 3.22. The data used for analysis comes from Unicredit Bulbank.
Despite the heightened investment interest, Bulgaria remains far below the average in Central Europe, whereas Western Europe remains even further away. For example, the share of mutual fund assets in relation to GDP in Bulgaria is about 5% according to national bank data at the end of 2022, while in France it tops 120%.
New management in major coal plant
The second largest coal-fired power plant in Bulgaria, ContourGlobal Maritsa 3, has a new director after long-time executive Krasimir Nenov was replaced by Quinto di Ferdinando.
The new appointment comes after the change in ownership of the plant last year. As part of a big acquisition, the American group ContourGlobal sold its business to the Kohlberg Kravis Roberts (KKR) fund for just over 2 billion euros. The Bulgarian power plant, which has a capacity of 908 megawatts, generates about a third of the parent company's revenues for 2021, which total $2.15 billion. It was the biggest energy asset of ContourGlobal.
GERB discusses first mandate
Representatives from GERB, as the largest faction in the new parliament, have met President Rumen Radev for a formal consultation regarding the formation of a new cabinet. GERB, led by their leader Boyko Borissov, insisted on forming a coalition with WCC-DB.
