The Bulgarian National Bank clarified that assessing measures that could affect the banking sector, financial intermediation, credit conditions and financial stability forms part of its institutional responsibilities. The statement responds to public comments about the governor’s position of Sept. 25 and stresses that providing a professional assessment of potential effects on the financial system and economy does not constitute participation in the political process. Tax and budget policy decisions remain the responsibility of the government and National Assembly. The central bank said its approach aligns with established Eurosystem practice and that central bank independence requires it and its governing bodies to perform their functions and present professional assessments without political considerations. It will not engage in political disputes.
Bulgarian National Bank clarifies mandate for independent assessments of measures affecting financial stability
The Bulgarian National Bank clarified that evaluating measures affecting banking, credit and financial stability is part of its institutional mandate and does not constitute political participation. Tax and budget decisions remain with the government and National Assembly, while the central bank must provide its assessments independently of political considerations.