site.btaBulgaria Could Be Removed from the FATF Money Laundering Grey List in Mid-2026, Says Justice Minister

Bulgaria has made significant progress in its efforts to be removed from the Financial Action Task Force (FATF) grey list for money laundering, with the Government aiming for this to happen by mid-2026. This was stated by Justice Minister Georgi Georgiev during a business breakfast organized by the British Bulgarian Business Association, held Thursday at the Grand Hotel Millennium Sofia.

According to Georgiev, over the past eight months, out of 40 FATF recommendations resulting in 25 measures, the Government has completed 22 — progress that was acknowledged by FATF just a few days ago. 

“Only three remain, and our ambition is that within the next year — as early as mid-2026 — Bulgaria will be removed from the grey list,” Georgiev said, adding that leaving this list is of crucial importance for improving business conditions in the country. 

During the event, titled “Partnering for Progress: Government and Business in Bulgaria’s OECD Journey,” the Justice Minister addressed representatives of the business community, assuring them that the Government is committed to reforms that improve the business environment in Bulgaria. 

“We would like to express the Government’s high-level commitment to supporting the business community’s efforts to grow the economy, expand opportunities in Bulgarian markets, and thereby create more and better prospects for the Bulgarian people,” Georgiev said. 

He noted that reforms supporting businesses have a broader social impact, as they create jobs, reduce youth emigration, and strengthen the foundations for economic growth. 

“This is the understanding shared by the Prime Minister and our entire team — to be a reasonable and diligent partner to business, ensuring legal certainty and predictability for investors, and thereby for society as a whole,” Georgiev emphasized. 

The Justice Minister outlined several key legal reforms aimed at improving Bulgaria’s business environment, including mandatory mediation (also in commercial court cases), personal bankruptcy legislation, changes in insolvency and liquidation laws, digitalization of case allocation in the courts, and a forthcoming lobbying law. 

The event, “Partnering for Progress: Government and Business in Bulgaria’s OECD Journey,” is part of a series dedicated to the 10th anniversary of the British Bulgarian Business Association. Today’s business breakfast was attended by government representatives, including Deputy Prime Minister and Minister of Transport and Communications Grozdan Karadjov, Deputy Minister of Economy Doncho Barbalov, and others.