site.btaUPDATED President Iotova Nominates BNB Deputy Governor Andrey Gurov for Caretaker Prime Minister

President Iliana Iotova has nominated Andrey Gurov, deputy governor of the Bulgarian National Bank (BNB), as candidate for caretaker prime minister, the President's press office said on Wednesday. Iotova will receive Gurov at the President's Administration on Thursday, February 12, at 10:00 a.m. and will task him with forming a caretaker government. 

Under the BNB Act, if the Governor or a Deputy Governor has explicitly agreed to be appointed caretaker prime minister, he or she must resign.

"Principles mean that Bulgaria is Europe, and in Europe elections are fair. Fair elections are possible when a caretaker government does not interference in the political arena, remains sufficiently neutral, and operates only within the powers granted to it by the Constitution," Gurov told reporters after meeting with Iotova on January 28. 

At the end of January, Iliana Iotova met with all potential caretaker prime ministers whose positions are listed in the Constitution. Five of them expressed readiness to assume the post: BNB Deputy Governor Andrey Gurov, Deputy Ombudsman Maria Filipova, Chair of the National Audit Office Dimitar Glavchev and his deputies Margarita Nikolova and Silvia Kadreva.

Under the Constitution, after consultations with the parliamentary groups and upon a proposal by the candidate for caretaker prime minister, the President appoints a caretaker government and schedules elections within two months.

In the first week of February, Iotova said that she and her team would do everything possible for elections to be held on the first date after the Easter holidays. The first Sunday after Orthodox Easter is April 19.

Andrey Gurov

Andrey Gurov was born on December 31, 1975, in Gotse Delchev, Southwestern Bulgaria, according to the BNB website.

He studied economics at Sofia University for two years before leaving for the United States in 1997 on a student work programme and continuing his education there. In 1999, he obtained a bachelor’s degree in economics from Truman State University in Missouri.

Between 1999 and 2000, he worked as a credit analyst at Harris Bank in Chicago. He later moved to Vienna, where he began doctoral studies and worked at Volksbank.

In 2005, he earned a PhD with a dissertation on the implementation of Basel II and related decisions by mid-sized banks in a competitive environment, after which he became Assistant Professor of Finance at the University of Vienna.

In 2008 and 2009, he served as Managing Director of Pirin Golf Holidays Club, according to Capital.bg. Since 2010, he has been Assistant Professor at the American University in Bulgaria, teaching finance.

Since 2007, he has been a member of the Euro Team at the European Commission’s Directorate-General for Economic and Financial Affairs. Between February 2005 and May 2009, he was a member of the Board of the Bulgarian Macroeconomic Association. From 2010 to May 2013, he was a Board member of the Institute for New Economic Progress. Since July 2022, he has chaired the Scientific Council of the Institute of Economics and Policies at the University of National and World Economy.

Between 2016 and 2021, he taught capital markets at the University of Applied Sciences of the Austrian Chamber of Commerce.

In 2021, he was invited by Kiril Petkov to join the Continue the Change party.

Gurov was MP in the 47th, 48th and 49th National Assemblies. He served on the Budget and Finance Committee in the 47th National Assembly and chaired the parliamentary group of Continue the Change. In the 48th and 49th legislatures, he again chaired the parliamentary group and was a member of the Committee on European Union Affairs.

Since July 26, 2023, Andrey Gurov has been Deputy Governor of the BNB, Head of the Issue Department and member of the BNB Governing Council. He was elected by the 49th National Assembly for a six-year term.

At present, Gurov remains Deputy Governor of the BNB, although he has not performed his duties for about a year and a half due to a case currently before the court, BNB Governor Dimitar Radev said on January 28.

At the end of 2024, the Court of Justice of the European Union opened a case following a request for a preliminary ruling by the Supreme Administrative Court concerning Gurov’s case. The proceedings were initiated on the same day the questions from the Bulgarian supreme judges were received. The Supreme Administrative Court also requested that the case be examined under an expedited procedure.

The request for a referral to the Court of Justice of the European Union was made by Gurov’s defence. The Supreme Administrative Court decided to submit eight questions related to the interpretation of provisions of the Statute of the European System of Central Banks, the European Central Bank and the Treaty on the Functioning of the European Union.

On June 27, the Anti-Corruption Commission informed the BNB of a decision establishing incompatibility with regard to Gurov. The Commission had found that when taking up his post at the BNB, Gurov was a partner in a commercial company and a member of governing bodies of non-governmental organizations, without having obtained permission from the bank’s Governing Council. On July 16, the BNB announced that pending a ruling by the court and Parliament on whether Gurov may serve as Deputy Governor heading the Issue Department and member of the Governing Council, he would suspend the exercise of his powers.