21.06.2015

"The new Law on Recovery and Resolution of Credit Institutions and Investment Intermediaries introduces a 1-year period in which an assessment of bank assets is to be made. We are ready to select the company that reviewed the assets of ECB to make this stress test". This is what Minister of Finance Vladislav Goranov said for Channel 3. The Finance Minister said firmly that "there is no second CCB smouldering" and highlighted that the speculations and the targeted pressure on one or another bank showed the lack of maturity of our society.  "There are no problems with other banks but if there had been such, we would have settled them long before", Minister Goranov assured. It became clear throughout the conversation that the international firm that is to make the assessment of CCB assets would be used as a tool supporting the Prosecutor's Office in the actions it has brought to court. Minister Goranov said that it was not only the state, which had made everything needed, on which it depended how much would be collected from the CCB assets in insolvency but also the Bulgarian courts.

Replying to a question, Minister Goranov said that the state energy system had liabilities amounting to BGN 4 billion. BGN 2 billion of them were connected to investment in Belene NPP and in the Tsankov Kamak facility, while the remaining BGN 2 billion resulted from tariff deficits. "For a finance minister it is important to prevent this system from decapitalising the state". This is how Mr. Vladislav Goranov commented on the topical issue after the extraordinary meeting of the Government that discussed what could be made to avoid an electricity price increase. The venue of this debate is the Bulgarian Parliament where everybody is supposed to share what they propose, added Minister Goranov. He added that every year NEK, as public supplier, incurred losses of BGN 800 million and this decapitalisation could continue no more. The Finance Minister shared his opinion that the system needed to be balanced first.