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Finance Minister Accuses Head of Central Bank of Interfering in Politics

bta.bg · 3h · first reportShare

Deputy Prime Minister and Minister of Finance Galab Donev told reporters on Monday that Bulgarian National Bank (BNB) Governor Dimitar Radev's statement from September 25 goes beyond Radev's authority and appears to be an interference in the political status quo. On September 25, the head of the central bank warned that the proposed additional tax on bank profits could lead to more expensive or less accessible loans, restrict private investment and increase the cost of government financing. Donev stated that the BNB Governor should not take a political stance on such issues. The minister characterized Radev's position as interference in the political situation. Regarding the concerns expressed by Radev that an excess profits tax on banks could affect the cost of credit in Bulgaria, Donev stated that these are mere insinuations. Donev noted that the draft legislation was posted last week, while on September 25, Fitch Ratings revised the outlook on Bulgaria's credit rating to positive fr