Bulgaria PM Backs off from Latest Cabinet Reshuffle Plan

Bulgaria’s PM, Boyko Borisov (R), met Saturday Istanbul's Governor Muammer Guler. Photo by BGNES

Bulgaria’s Prime Minister, Boyko Borisov, stated Saturday he currently did not see any need to appoint another Deputy PM.

Internationally recognized, young macroeconomist and INSEAD professor, Ilian Mihov, was slated to become the third Deputy PM in the Cabinet “Borisov” to assist with financial and economy matters. On Friday, however, Mihov requested that his appointment is postponed.

Borisov, who is on an official visit to Istanbul, confirmed Mihov’s words and the news about the delay.

Mihov himself said that his Deputy PM nomination can be put on the table only after Bulgaria joins ERM2, adding he was not offended from the political games in the country. He referred to media reports in Bulgaria in which a number of critics raised concerns that upon joining Borisov’s Cabinet, the INSEAD professor would modify or eliminate the currency peg.

“The ways I arrange my team, when to strengthen it, when to include a new player – this is my own business. My Cabinet is moving along fine; our international partners accept us, I don’t see the need to make changes now,” Borisov told reporters in Turkey.

He further confirmed the appointment of Kolio Paramov as his economic advisor, adding Paramov had assisted him for a while, but the media just did not notice.

Paramov, himself, confirmed the appointment, saying he took over the job on January 25.

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