site.btaUPDATED PM: "We Eliminated Oligarchs from Political Power"

Addressing the traditional Business Breakfast of the American Chamber of Commerce in Bulgaria (AmCham) with government representatives Monday morning, Prime Minister Rumen Radev said the government has eliminated oligarchs from political power. "The government’s programme rests on two main, interconnected pillars: dismantling the oligarchic model and fighting corruption, and accelerating the country’s economic development," Radev said in his opening remarks.

Participants include Alexander Poulev, Deputy Prime Minister and Minister of Economy, Investment and Industry; Ivan Vasilev, Minister of Innovation and Digital Transformation; Nikolay Naydenov, Minister of Justice; Lyubomira Gancheva, Deputy Minister of Energy; and representatives of the diplomatic corps in Bulgaria.

The programme includes a discussion between government ministers and AmCham members. The talks are closed to the media.

"Certainly, we have already removed the oligarchy from political power. It can no longer dictate by phone what the Bulgarian government should do. But this is only the beginning on the path towards dismantling the oligarchic model of governance. This is a very difficult battle and we have not finished it," Radev said.

The government is currently working to cut off the oligarchy's access to public resources, Radev said. "We are terminating compromised public procurement procedures, reviewing others, carrying out audits," he said. "This is how we remove the possibility for the oligarchy to exert influence," he said.

According to Radev, the next stage is to continue with the reviews and cooperation with partner services abroad to identify assets, property and activities of Bulgarian citizens abroad that were acquired in violation of the law.

"We already have successes," Radev said, mentioning information received about international flights by Movement for Rights and Freedoms leader Delyan Peevski. "These are facts," he added.

The Prime Minister said the government would conduct this "complex operation on a broad front" to also cover individuals acting as proxies.

"We are focusing not only on stopping all these activities, but also on creating mechanisms, through, the SIGMA platform, to prevent the possible re-capture of institutions," he said adding that SIGMA will continue to be further improved.

Dismantling the oligarchic model is of great importance for accelerating Bulgaria's development, Radev said, adding that if the government fails to tackle the issue, businesses' efforts to move Bulgaria's development forward will be limited.

"The AmCham business breakfast is an event at which businesses expect to hear more from the government about its measures for Bulgaria's sustainable development and sustainable economic growth. This can be achieved through an active policy with businesses and Bulgaria's strategic allies," AmCham Executive Director Ivan Mihaylov said.

He said expectations for the event were high because the meeting would build on the existing institutional dialogue between AmCham and the government.

Changing the economic development model - a strategic goal

The Prime Minister then highlighted the government’s strategic goal of changing the country’s economic development model, from one based on consumption and low wages, which he said had reached its limits and was no longer driving development, to one based on high productivity, a knowledge-based economy, increased competitiveness, aggressive investment attraction, an improved business environment and investment climate, and conditions for increased economic activity.

"If successful, we will increase the size of the gross domestic product and take the country's economy into another orbit," the Prime Minister said.

He also said discussions on legislation governing public-private partnerships (PPPs) were nearing completion. He also highlighted the government’s intention to develop the country’s strategic infrastructure through concessions and PPPs.

He linked accelerated improvements in connectivity to the development of Bulgaria’s regions, reducing regional disparities, addressing demographic problems and increasing economic activity.

"We will seek to raise financing from capital markets and funds so as to bring in private capital and private initiative," he said.

Radev also highlighted the government’s active foreign policy. "We do not view strategic infrastructure projects as confined within the country; we have brought them onto the field of European and global policy, as part of pan-European and transcontinental corridors," the Prime Minister said.

According to Radev, Bulgaria is becoming a centre of these processes and is taking part in discussions about the future of Europe and about the United States, which he described as a key strategic partner for Bulgaria. He stressed that this change was not only a matter of geography, but also the result of the government’s proactive policy with European institutions to develop connectivity.

"Bulgaria must finally make real use of its geographical position," Radev added.

Addressing business representatives, he also highlighted the government’s work on the National Recovery and Resilience Plan, stressing the implementation of reforms, rather than the amount of funding attracted, as a key aspect.

Achieving the goal of changing the economic model can only be done through close cooperation between the state and business, the Prime Minister said.