INSEAD Professor Denies Being Threat to Bulgaria Finance Minister

Business | January 21, 2010, Thursday // 10:09|  views

Pollsters have forecast that Djankov will be one of the first sacked ministers in the center-right government of Boyko Borisov because of the sharp drop in his approval rating. Photo by BGNES

A young financial expert, who has been tipped to join Bulgaria's GERB party cabinet as a new deputy prime minister, has denied reports that he will replace Finance Minister Simeon Djankov.

“It is not my intention to oust Minister Djankov, quite the opposite. I want us to work together as a team,” Ilian Mihov, INSEAD Professor, said Thursday morning in an interview for the state TV channel.

He added that his work will focus on the macroeconomic development of the country, but that he will be happy to assist Djankov in his efforts to accede Bulgaria to the eurozone, which is one of the resources the finance minister is in charge of.

“I know many people at the European Central Bank. My professional contacts would be of use in the talks with people from the European Commission,” he said.

Mihov confirmed that the invitation for joining the Bulgarian government as deputy prime minister came after Kristalina Geoрgieva, Vice President of the World Bank, who has been tipped for the job, landed the nomination for Bulgaria's new European Commission.

Simeon Djankov, formerly a senior economist at the World Bank, has spearheaded an austerity drive in Bulgaria's economic and fiscal management that has made it a role model for other countries in Europe.

Bulgaria joined the EU in 2007 and posted the smallest budget deficit among the 27 member states last year, according to the finance ministry. It is expected to be the only EU nation to balance its budget in 2010.

Bulgaria's government is set to apply by the end of January to join the exchange-rate mechanism, the two-year currency stability test prior to euro adoption, and seek to switch to the common currency in 2013.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!


Tags: Ilian Mihov, GERB, Boyko Borisov, deputy pm, Prime Minister, INSEAD, Kristalina Georgieva

Back  

» Related Articles:

Search

Search