Cabinet deal seems imminent
GERB and WCC-DB are expected to finish all consultations on the composition and structure of the new cabinet today, sources close to the parliament have told Capital Weekly. Earlier, GERB leader Boyko Borissov announced that the negotiators from the two parties "are very close to making a deal, but still, until everything is agreed, nothing is agreed."
Many of the ministers will likely be related to WCC, with no GERB political figures expected. The negotiations, springing from the second mandate that President Radev (reluctantly) handed to WCC-DB, follow the collapse of the original agreement that would have seen GERB's Mariya Gabriel and WCC's Nikolay Denkov rotating the post of prime minister.
Gas price for regulated market down
The natural gas price in June will be BGN 65.82 per megawatt hour (MWh) for the regulated market. This will be the price at which national distributor Bulgargaz will sell gas to plants, suppliers and factories.
The price has fallen by 15.2% from May, when it was BGN 77.55/MWh. The regulator states that the main factor is the lower prices on the TTF exchange and low demand. The price has now been falling steadily since the beginning of 2023.
Banks report record profit
After last year's banking sector profits of BGN 2 billion, Q1 of 2023 already reports over BGN 1 billion - a potential record if it continues throughout the year. Until April, the rise in profit is 61.5% above 2022, however, it should also be taken into account that, traditionally, Q1 is stronger for financial institutions because of the dividends received from subsidiaries.
The main reason for the banks' strong performance continues to be the growing interest rate spread.