Bulgaria’s Finance Minister Calls For New Central Bank Governor

Bulgaria needs a new governor of the Central Bank (BNB) who will re-establish the trust in the banking system after the crisis with the Corporate Commercial Bank (KTB), said the Finance Minister Vladislav Goranov.

In an interview for the breakfast show of the Nova TV national channel he said he told that to BNB Governor Ivan Iskrov. “I told him that in the face, but he already knows it,” Goranov said. “They made a mistake, which the public cannot just let go like that. BNB failed in carrying out its oversight duties.”

According to Goranov, in the case with KTB the state, the law enforcement and the banking oversight organs failed and could not foresee and prevent what happened.

Regarding next year's state budget, Goranov said he will make an effort to bring the budget deficit down to the 3% of GDP limit, set by the EU, and will make sure that the state spends as much as it makes.

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