Bulgarian Banker Vassilev Claims to Contribute 10% of National GDP

Bulgarian banker Tsvetan Vassilev's companies contribute more that 10% of the country's GDP, according to Vassilev's own assessment.

Friday German daily Handelsblatt published an interview with the Buglarian businessman, in which he commented on Bulgaria's business and political climate in the EU context.

"I employ 20,000 people in Bulgaria, and indirectly that number is over 150,000. My businesses make over 10% of Bulgaria's GDP. Given this, I know very well Bulgaria's true problems," said the banker.

Vasilev admitted that corruption is a grave ill in Bulgaria, but said this is something that politicians, rather than businesspeople, are to be held responsible for.

"The most serious problem in Bulgaria is that politicians think they are all powerful and untouchable. This will change sooner or later. The crisis speeds up those processes and the political system in Bulgaria will very soon change," concluded the banker.

Tsvetan Vassilev's Corporate Commercial Bank was the object of media attacks in 2012-3, after allegations that funds of Bulgarian state companies are heavily concentrated in the entity.

The banker has denied this many times recently.