Andrey Gyurov will cease to perform his duties as Deputy Governor in charge of the Issue Department and Member of the Governing Council of the Bulgarian National Bank (BNB) until the court and parliament make a decision, the BNB announced. The decision of the Governing Council of BNB is based on legal and factual grounds concerning various aspects and legal interpretations of the established incompatibility. They have to go through the prescribed mechanisms for judicial control and parliamentary review, the central bank announced.
The judicial control foresees a ruling by the Supreme Administrative Court in case of an appeal against the decision regarding incompatibility. The parliamentary review is in accordance with the Law on the Bulgarian National Bank, as the parliament is the only competent body that can prematurely release a member of the Governing Council of the BNB. Andrey Gyurov did not participate in the vote. The decision was unanimously adopted by the remaining six members of the council.
The Bulgarian National Bank has lowered the base interest rate for the second consecutive month. As of August 1, it stands at 3.53%, down from 3.63% in July. Since the end of 2023, the base interest rate has been gradually falling. From February..
Moody's expects Bulgaria to join the Eurozone no later than the beginning of 2026. According to the rating agency, the growth of the Bulgarian economy in 2024 will be 2.9%. The ongoing domestic political crisis and the likelihood of new early elections..
Until the end of 2024, businesses will continue to receive compensations for high electricity prices. They will be 100% after a price of over 90 euros per megawatt hour on the stock exchange. The previous threshold was 100 euros. The..
The unemployment rate in Bulgaria stood at 5.41% in July, the National Employment Agency says. 152,844 is the number of unemployed persons..
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