The week: No more politics, just business

But journalists seeking answers to these questions were to be disappointed - Trump Jr refused to disembark unless all cameras pointing at him were taken down. Then he canceled a press conference that the organizers from crypto firm Nexo had promised. Unlike his father who revels in attention, the son spurned all media and returned to Belgrade later that evening.

In the end, what emerged from the forum was just an announcement by the organizers that they would be reentering the US crypto market after a three-year hiatus.

Although Nexo seems to have paid for the whole CEE trip, that's hardly what it was all about.

For one, journalists found out that GERB's Boyko Borissov, who has recently been advocating openly in favor of mogul and MRF-New Beginning leader Delyan Peevski's removal from the Magnitsky sanctions list - met with Trump Jr on the sidelines of the event. So did Romanian politician Victor Ponta, a candidate for head of state in the re-run to the botched 2024 elections.

Whatever they discussed with Trump Jr, it certainly wasn't crypto.

We may never know Trump Jr's real intentions and goals. But here's what we do know.

First of all, his father's preference for striking deals behind closed doors seems to resonate well with the local elites in the region - be it business or political. They have always liked doing things in secret rooms and corridors, instead of in the open. And now they feel emboldened that the other side does, too.

Secondly, informal diplomacy seems to be the modus operandi of the US at the moment - the new administration has not bothered to appoint new permanent ambassadors to many of the countries visited by Trump Jr yet, so he has been the most senior US figure to set foot in the region without even holding a post. And what's pretty sure is that he was far more representative of the thinking in Washington now, which might send a dangerous signal.

This brings us to the last takeaway - maybe striking deals, be it political or business, is all that the new administration cares about in this part of the world. This would be a sea change for the Balkans: no more democracy promotion, anti-corruption and maybe even security guarantees. Just business. A new reality to be reckoned with.

Politics this week:

The largest anti-systemic party in the Bulgarian parliament - Vazrazhdane - set out on a global tour to make friends in strange places, including Moscow, Tehran, and Washington. Envoys of the party boasted of meeting like-minded politicians in all of these countries, but the highlight was their visit to Russia.

According to Vazrazhdane leader Kostadin Kostadinov, his party signed a cooperation agreement with the ruling party of President Vladimir Putin, United Russia. According to the memorandum, Putin's party expects Vazrahdane to "continue upholding its balanced approach to the Ukrainian crisis" and help "fix the situation" between the two countries. "The agreement provides for an exchange of experience, ideas and political practices between the two organizations, representing an important positive step for the restoration of full Bulgarian-Russian relations," Kostadinov wrote on Facebook.

Peg the lev to the dollar, don't adopt the Euro!

But the party is not placing all its eggs in one basket. At a meeting at the US Congress, representatives of Vazrazhdane told Republican lawmaker Keith Self, who is Vice-Chairman of the Foreign Policy Committee of the US House of Representatives and Chairman of the Subcommittee on European Affairs, that they would prefer to replace the euro with the US dollar as the reserve currency in the currency board - a move that would supposedly "strengthen the country's financial independence and deepen strategic ties with the United States" - the country that Vazrazhdane loved to call a neocolonial empire until just a few months ago.

Mariya Gabriel surprisingly loses vice-president seat in the EPP

The European People's Party (EPP) held its congress in Valencia this week, where former EU Commissioner and Deputy Prime Minister of Bulgaria Mariya Gabriel got a cold shower in what she considered to be a shoo-in candidacy for one of the ten vice-presidency seats in the party. Her name and reputation are well-known, but it turned out a series of factors prevented her from remaining among the strong names in the EPP.

This came as a complete surprise. Gabriel managed to collect only 217 votes, while the Portuguese Paolo Rajel, who replaced her, took 287 votes. After her exit from Bulgarian politics, she was cleverly hidden by the party while she was running for the post of NATO deputy secretary-general. As she did not get it, she became president of the Robert Schuman Research and Training Institute of the EPP. However, it turned out that a series of factors, including her weakened political position (she no longer holds high office in European or national politics) and lack of strong lobbying, took her out of the game literally at the last minute.

Economy:

Bulgaria went to the international debt market for the first time in 2025 on Monday, managing to raise a significant part of the financing needed for the year. According to Capital, on 28 April the government and its advisors Citi, ING, J.P. Morgan and UniCredit successfully placed a total of EUR 4bn of the two proposed issues of different maturities in the course of the day amid strong investor interest. One is a nine-year maturing on 7 May 2034, with yields achieved of around 3.65-3.70%. The other is a 13-year maturing in 2038, with a yield of around 4.3%.

To some extent, the exit comes as a surprise, as it would have been logical for Bulgaria to wait until June, when the green light for the eurozone is expected. This should bring a rise in credit ratings and therefore more favorable financing opportunities. According to Capital, however, the relatively depleted fiscal reserve and the calendar of upcoming payments in May create some liquidity concerns, so it was decided not to wait for the convergence reports to come out. Apparently, the Bulgarian government and bank managers are betting that many investors will bet on the high probability of euro adoption and therefore on the possibility of striking a bargain before then.

Figure:

The price, per km, of the planned Ruse-Veliko Tarnovo highway, which amounts to a total of 3 billion levs.

Business:

Mihail Tikov's hospital group announced it would buy Serdika hospital for 6.7 million levs. The country's largest healthcare holding acquires one of the leaders in oncology and orthopedics in the capital city.

Banking

For the third consecutive year, the Italian-owned bank is the largest financial institution in Bulgaria according to the K10 ranking of Bulgaria's biggest banks of Capital weekly.

Electricity prices for households will continue to depend on politicians' whims

Households will not join the free electricity market this year. Nor is it likely to happen next year or the year after. The reason - MPs on the parliamentary energy committee passed at first reading two bills to postpone liberalization. The first draft came from BSP and provides for the postponement to be for two years, and the second of TISP - the deadline to be moved by 5 years. In the end, the deadline for the postponement of the free market will be specified between the two readings of the laws. Most likely, however, the MPs will settle on a compromise option - 4 or 8 years, similar to the parliamentary mandates, so that there is no concern that the proposal of one party or another is supported.

Watch out for:

The new duo in charge of Yes, Bulgaria - the most vital part of the Democratic Bulgaria coalition, part of the larger WCC-DB movement. They were selected with an overwhelming majority during the party's congress last weekend and will have to steer the party through its time in opposition, decide whether to go forward alone or together with WCC and turn it once again into a viable ruling alternative for voters.

Date:

4 May

For the 12th consecutive year, thousands of participants around the world will run for those who cannot. Bulgaria once again joins the global run with the cause of finding a cure for people with spinal disabilities. All funds from entry fees are donated to the Wings for Life Foundation to support research. The start in Sofia is from the Elephant playground in the Borisova Garden at 2 PM. Register for the event in the Wings for Life app.