Bulgarian Deputy Finance Minister Dismissed

Ana Mihaylova has been dismissed from her position as the Deputy Finance Minister. Photo by BGNES

Bulgaria's Prime Minister Boyko Borisov has dismissed the Deputy Finance Minister, Ana Mihaylova.

She will stay in the Finance Ministry as an advisor to the Finance Minister Simeon Djankov.

According to the government, the change was prompted by the new priorities in the activities of the Finance Ministry.

Mihaylova will be replaced by Boryana Pencheva, who is the former head of the Trade Promotion Agency in the Economy Ministry and an expert and head of the Trade Institute in the Economy Ministry.

In the period 2002-2009, Pencheva was head of the directorate “Management of EU Funds” in the Finance Ministry. She was responsible for the planning, negotiations, management, coordination and monitoring of the financial support for Bulgaria from the EU and the financial mechanism of the European Economic Area.

Pencheva was also responsible for bilateral programs with Greece, Denmark, Norway, the Netherlands and Greece.

At her new position, Pencheva will be responsible for the external debt, relations with international financial institutions, EU funds and macroeconomic analysis in the Ministry of Finance.

The new Deputy Finance Minister graduated in 1981 from the Bulgarian University of National and World Economy with a major in International Economic Relations.

In 1988 she received her PhD in Economics in the Institute of World Economy and International Relations in Moscow.

Pencheva is fluent in English and Russian, and can also speak German and Spanish.

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