site.btaVazrazhdane's Central Bank Governor Nominee Presents Platform of 7 Priorities to MPs

Vazrazhdane’s nominee for Bulgarian National Bank (BNB) Governor Lyubomir Hristov said Friday that he will be guided by 7 priorities if he is chosen for the position. His hearing was held at a meeting of the parliamentary Budget and Finance Committee.

Hristov described as his first priority the elaboration and placement of an official analysis, adopted by the BNB Board, of the medium-term effects of the introduction of the euro in the country. "I believe that it is not too late for a professional debate on this issue and the BNB is indebted to both the MPs and the general public," he argued.

Secondly, he placed more active use of macroprudential policy tools to suppress inflation and control the risk on commercial banks' balance sheets by calming household credit growth.

Thirdly, he highlighted the intensification of BNB's research and forecasting activities and the pursuit of a better focus on topics of practical interest to both the Central Bank and the government.

Next, he stressed the need to develop and adopt an opinion on the single currency or digital euro package, which was presented by the Commission in June.

Hristov's next priority is to make every effort in taking BNB Board's decisions by consensus.

Hristov also pointed out as another of his priorities the strict observance of the BNB laws and in particular the implementation of the institution's objectives.

Lastly, Hristov will focus on the day-to-day management of the BNB's activities in order to comply with the bank's commitments under the statute for close cooperation with the European Central Bank.

Earlier on Friday, the committee held a hearing of the current Governor and candidate for a new mandate Dimitar Radev. Also on Friday, BSP for Bulgaria announced that it is withdrawing its candidate for BNB Governor Nikolay Kavardzhikliev.