Financial and business news from Bulgaria

Goranov: This is not the time to talk about democracy

“This is not the time to talk about democracy,” said Minister of Finance Vladislav Goranov.
He pointed out that the strict measures introduced are related to “creating a prerequisite for not a good spread of the coronavirus, not to create restrictions”.

Goranov specified that the strict measures would apply only during the period of the introduced emergency situation.

According to him, one can not talk about a moratorium on loans.

"We do not accept this populist move that could make commercial banks worse. There's no way to talk about a moratorium in a bond relationship.

Do you want to make a moratorium and on that you can withdraw your deposit from the bank? Because on one side are people's investments, on the other - loans distributed by banks to individual individuals and legal entities,” Goranov told BNR.

He commented on the financial measures taken in relation to the state of emergency in order to “help with state resources and regulatory measures by banking supervision: “We have taken measures to provide flexibility - with additional capitalisation of the Bulgarian Development Bank “.