POLITICS
Trud argues that the Radev cabinet faces three key constraints: time, personnel and money. Time is particularly limited, as the government must tackle a long list of urgent domestic and foreign-policy issues while institutional procedures slow down decision-making. Personnel is another major challenge, with the cabinet lacking a sufficient pool of experienced and capable people to replace inherited political appointments. The third constraint is funding, with the government facing a difficult fiscal situation and limited room for new spending. The cabinet’s early actions suggest it has not fully adapted its priorities to these constraints, spreading its efforts across too many areas rather than concentrating on a small number of achievable priorities.
Trud publishes the statement of Douglas Holder, who was nominated by the US President for Ambassador to Bulgaria, at his September 30 hearing by the Senate Foreign Relations Committee. He said, among other things: “If confirmed, I will further this relationship by promoting American values and interests, fostering economic growth, and strengthening our people-to-people ties. I will also work tirelessly to provide the necessary support and resources to United States citizens living in, and visiting, Bulgaria. (…) I will work closely with Bulgarian counterparts to strengthen our defense cooperation and help put them on a credible pathway to meet their Hague Summit commitments by 2035. (…) I will also focus on economic diplomacy. The United States and Bulgaria enjoy a strong economic relationship, but we can improve commercial ties, especially in the energy sector, AI, and critical minerals. I will promote American exports and encourage Bulgarian investment in the United States, which will create jobs and opportunities for American workers.”
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Trud publishes a Sova Harris survey which gives the Iotova-Valchev presidential ticket 50.2% support from respondents who named their choice for the October 25 election. The Gurov-Kandev ticket is second with 23.7%, followed by Kostadinov-Volgin with 12.7%. The representative survey was conducted on September 23-28 and was commissioned by Trud. Less than a month before the presidential election, fewer than 50% of voters have decided whether to vote and whom to support. In terms of trust, President Iliana Iotova ranks first among leading Bulgarian politicians at 45.8%. Prime Minister Rumen Radev is close behind at 44.6%. Andrey Gurov ranks third at 19.4%. He is followed by Vazrazhdane leader Kostadin Kostadinov at 17.2%.
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24 Chasa reports that presidential candidates have received EUR 214,660 in donations in the first week of the campaign, but the money has gone to only two of the 27 registered candidate tickets: Iliana Iotova-Kiril Valchev and Andrey Gurov-Georgi Kandev. Gurov and Kandev have received EUR 163,600, or more than 73% of the total, including the campaign’s largest donation so far, EUR 100,000 from Kaloyan Danchev, reportedly a business partner of the wife of former Continue the Change co-leader Kiril Petkov. Most of the donations have come from MPs, all of them from Democratic Bulgaria. Notably, no money has so far been donated by Continue the Change, the party with which Andrey Gurov began his political career.
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In 24 Chasa, Arkadi Sharkov analyses how Bulgaria can put to better use its weight in the EU and the UN. He argues that Bulgaria’s foreign-policy orientation remains firmly aligned with the EU, despite recurring political claims of a shift towards Russia. UN voting patterns and trade ties support this, while the more important question is how Bulgaria can make better use of its influence within the EU as Europe faces growing geopolitical challenges. Trade ties with Bulgaria’s neighbours point to a concrete course of action. The Black Sea region is where Bulgaria’s security interests intersect with those of farmers, transport operators and ports. Disruptions to fertilizer supplies show why this link should feature more prominently in the country’s foreign policy.
ECONOMY, FINANCE
The cover story of the Capital weekly examines how, in the decade following the global financial crisis, governments became hooked on cheap money.
The editorial says budget deficits and mounting debt no longer translated into unaffordable interest costs, while real or potential crises were increasingly met with cash injections rather than reforms. Now the bill is coming due. When debt servicing absorbs as much as 20% of the budget, as in the US, the situation becomes worrying. A debt crisis is not inevitable, however, and the solutions are clear but unpopular: tax increases and/or spending cuts. Politicians keep putting them off, partly for fear of losing elections to populists promising the opposite. The good news is that, despite years of political instability and budget giveaways, Bulgaria continues to look exceptionally well placed by comparison. The bad news is that this may not be enough. As global yields rise, financing deficits will become increasingly expensive for the Bulgarian government, making it all the more important to bring them down. Decisive steps would be welcome as early as in the 2027 Budget.
A commentary in the Capital weekly says the Finance Ministry’s proposal to introduce a windfall tax to raise EUR 1 billion for the budget was bound to draw criticism from affected businesses. However, the debate escalated after the most detailed criticism came not from a business lobby but from Bulgarian National Bank Governor Dimitar Radev, who outlined the potential effects on the banking sector and the wider economy, calling for an impact assessment before any action. Deputy Prime Minister and Finance Minister Galab Donev reacted sharply, accusing Radev of overstepping his role and engaging in political interference. The clash highlights the importance of substantive debate between politicians and central bankers, rather than treating dissenting views as attacks.
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Interviewed by the Bulgarian National Radio (BNR), Fiscal Council member Lyubomir Datsov, a former deputy finance minister, said the budget deficit could come in significantly below current projections, ranging from around 3.7-3.8% of GDP to 2.4-2.5% if spending is kept under tighter control, although the latter would require some payments to be postponed until next year. He also called for comprehensive administrative reform, saying there are currently no clear plans for substantive changes to improve the efficiency of public spending. “Focusing on the revenue side can only temporarily patch up the situation, giving the government some breathing room or allowing those in power to carry out reform,” Datsov said.
Likewise, financial expert Dimitar Georgiev argued on BNR that raising taxes, including taxing excess profits, is not the right approach and that spending cuts should be pursued instead. He warned that higher taxes could deter foreign investors and said Bulgaria’s low and simple tax system remains an important advantage. He noted signs of overheating in some sectors, with property and IT showing signs of slowing, and expects unemployment to rise gradually in the coming months.
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A story headlined “The Developed World’s Bottomless Debt Trap” in the Capital weekly examines the mounting debt burden facing developed economies as the era of cheap money gives way to higher borrowing costs, rising interest payments and the need to choose between fiscal consolidation and further debt. The resulting refinancing challenge is also reaching Bulgaria, where higher German and US bond yields are pushing up the cost of government borrowing. Bulgaria remains in a relatively favourable position, with public debt at around 30% of GDP and interest payments projected at EUR 1 billion, or 0.8% of GDP, in 2026. However, the country’s fiscal headroom should not be taken for granted, and the experience of Romania is cited as a warning against allowing debt to grow unchecked. Martin Tarpanov, Head of Debt Securities Trading at Deltastock, is quoted as saying that Bulgaria is in a position similar to Romania’s of five or six years ago, but cautions against following its example. Bulgaria’s debt-to-GDP ratio is expected to reach 33-35% in the coming years and could rise to 37-38% under a much more adverse scenario, he says. Even at 35%, however, he does not expect a dramatic increase in debt-servicing costs.
Interviewed by Capital, Tarpanov says Bulgaria has sufficient fiscal space and buffers to weather a global debt crisis for five to seven years, depending on its severity. Bulgaria could not remain insulated from a major global shock, but its EU and eurozone membership would provide an additional safety net. For now, Bulgaria faces no financing problems: borrowing may become more expensive as benchmark yields rise, but this would reflect global market conditions rather than a higher risk premium on Bulgarian debt.
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Trud reports that the Association of Organizers of Gambling Games and Activities in Bulgaria warns that around 800 of the country’s roughly 1,000 gambling halls could be forced to close, potentially costing up to 20,000 jobs. The industry estimates that this could reduce budget revenues by around EUR 400 million a year in taxes, fees and other payments. The issue stems from restrictions on where gambling halls and casinos can operate. Association Chairman Milen Totev says that even the mountain resort of Bansko in Southwestern Bulgaria could be left without casinos, despite its large number of foreign tourists who gamble. Bansko is not classified as a national resort and has a population of 10,090; if its population falls below 10,000 next year, casinos there would have to close.
QUESTIONS SURROUNDING BUSINESSMAN’S MURDER
The Capital weekly looks at the murder of Plovdiv-based businessman Ilian Filipov on September 30 and asks questions about a possible conflict with Ivan Petleshkov, owner of private security company Traffic SOT and other businesses in the city. The weekly mentions Filipov’s alleged ties to current Interior Minister Ivan Demerdzhiev, saying that while he was a lawyer with the Plovdiv Bar Association, he provided legal advice to Filipov on several occasions and publicly took positions against his business rivals in the city.
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In a right-of-reply letter to Nova TV, Petleshkov said the Plovdiv Regional Court had ruled in a case he had brought, finding Filipov guilty of defamation. He also referred to Parliament’s Question Time on October 1, when Interior Minister Ivan Demerdzhiev said Filipov had not filed a report or complaint against Petleshkov with the Interior Ministry or the prosecution service. Petleshkov stressed that Filipov had not brought a lawsuit against him and that the only court ruling against either party was the defamation case against the murdered businessman.
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Trud has a detailed report on the facts, theories and reactions to Filipov’s murder. The daily says police detained Slavcho Megerov 18 hours after the businessman and Botev Plovdiv football club president was killed. Megerov, a childhood friend of Filipov and an employee of one of his construction companies, is suspected of being the physical perpetrator. Investigators are examining several possible motives, including unresolved financial relations, a personal dispute, drug trafficking and business interests.
The report also revisits two cases in which trucks operated by companies in Filipov’s PIMK group were involved in suspected cocaine trafficking, including the seizure of nearly 180 kg of cocaine in France in October 2025, as well as a case in Italy involving 18 migrants from Iran and Iraq found hidden in a PIMK truck last December. The companies have denied involvement, saying the drivers acted independently. Authorities have so far said the leading version is that the killing was linked to unresolved financial relations, while Interior Minister Ivan Demerdzhiev said investigators had identified the suspected physical perpetrator and were looking for those who ordered the killing.
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Plovdiv police chief Vasil Kostadinov told Nova TV that Filipov and his alleged killer met two weeks before the murder, but there was no indication that Megerov threatened Filipov at the time. The motive for the businessman’s murder has not yet been confirmed as being limited to a single factor, said Kostadinov.
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Milen Ivanov, Deputy Rector of the Academy of the Interior Ministry, told Bulgarian National Television that although charges had been brought, the murder weapon had not been found. He stressed that the investigation was still at a very early stage and it was too soon to say that the killer had been detained. Ivanov also said there could be another account of what happened, as it was not yet clear whether the incident stemmed from financial or business problems or was a purely personal matter.
TSAR SAMUEL’S REMAINS RETURN TO BULGARIA
Ahead of the return of Tsar Samuel’s remains from Greece to Bulgaria on October 3, Trud publishes the opinion of Prof. Spas Tashev, Head of Department at the Institute for Population and Human Studies with the Bulgarian Academy of Sciences, who says the event is of exceptional historical and scientific importance. He cites a combination of archaeological, historical and anthropological evidence: the location of the burial, its privileged setting and rich funerary remains, the skeleton’s sex and age, a healed arm injury consistent with accounts of Samuel’s injuries, and the burial’s chronology. He also points to the identification by Greek archaeologist Nikolaos Moutsopoulos and his 1984 study.
On BNT, journalist Georgi Milkov talked about Tsar Samuel’s unique place in Bulgarian history, combining grandeur and tragedy. He highlighted Samuel’s decades-long struggle to preserve the Bulgarian state, his killing of his brother Aaron, and his dramatic death after seeing his blinded soldiers, an event associated with the fall of the First Bulgarian Empire.
SOCIETY
A story in the Capital weekly headlined “From London to Sofia and from Sofia to the Countryside” looks at the I Choose Bulgaria programme, which aims to tackle the country’s demographic decline by offering financial incentives to people who move to Bulgaria or relocate within the country. Its first phase helped more than 1,800 Bulgarians return from abroad. The second phase, starting this autumn, will encourage people to move from larger cities to smaller towns and villages with fewer than 50,000 residents. Eurostat projections show the population of predominantly rural regions in Bulgaria is expected to decline by another 9.8% by 2050. While such programmes may provide a short-term incentive, retaining newcomers will require sustained investment in infrastructure, the business environment, public services and quality of life.
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Former Continue the Change MP Lena Borislavova announced on Thursday that she is launching the Unbroken platform, mediapool.bg reports. The platform will cover legal costs for women targeted because of their civic activism or subjected to insults or harassment. The initiative will be funded in part by compensation paid by There Is Such a People leader and TV host Slavi Trifonov to Borislavova over a defamatory song he released in 2023.
Media Review: October 2 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-02 10:06:37
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BULGARIA NEWS – NEWS AGENCY 2009–2026 2026-10-02 10:06:37
