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Elections 🗳️

Election Dates Set, New Corruption Probes Launched Amid Funding Drive

Bulgaria has scheduled the first round of its presidential elections for October 25th, with a runoff on November 1st. This development comes as the nation grapples with ongoing political scrutiny, including new poll data that indicates varying levels of public trust in the government's ability to tackle corruption, rising prices, and road safety. President Iliana Iotova has also publicly confirmed she will not veto the budget.

Adding to the political discourse, the Chief Prosecutor has initiated a new probe into a corruption case following a conflict with Prime Minister Rumen Radev. Further allegations of corruption have surfaced, specifically concerning the NATFIZ Rector's illegal second salary and substantial, unexplained expenditures within an Interior Ministry unit.

Economically, the government is activating an "emergency plan" to secure 800 million euros in EU regional development funds, detailing significant allocations for projects like the Sofia metro and a children's hospital. Citizens will also face a 30% increase in the annual vignette price starting in August, while the Pension Board has confirmed no changes to early retirement regulations.

On a positive note, Schneider Electric is nearing the acquisition of Bulgarian Shelly Group for 1.3 billion euros, marking a significant foreign investment in the country's business sector.

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Presidential Election Dates Announced and Candidate Maneuvering

The first round of Bulgaria's presidential elections is set for October 25th, with a runoff scheduled for November 1st. This announcement coincides with political discussions surrounding presidential candidates vying for influence, and President Iliana Iotova's declaration that she will not veto the budget.

Government Performance and Public Trust Under Scrutiny

New analyses from Alpha Research and Boryana Dimitrova indicate mixed public sentiment towards the government. While some credit of trust remains, the government is perceived as failing to effectively address corruption, rising prices, and road safety. However, the personal approval of Prime Minister Rumen Radev appears to offer a degree of protection against broader criticism.

New Corruption Allegations and Judicial Probes

Following a conflict with Prime Minister Rumen Radev, the Chief Prosecutor has ordered a new probe into a corruption case. Concurrently, the political party Democratic Bulgaria has questioned Prime Minister Radev's approach to systemic issues within the prosecution service. Separately, investigations have uncovered that the Rector of NATFIZ illegally received a second salary, and a "parasitic" unit within the Interior Ministry has spent over 3.7 million euros on salaries.

Economic Measures and Infrastructure Funding

Bulgaria has launched an "emergency" plan to prevent the loss of 800 million euros in regional development funds by the end of 2026, with specific allocations including 220 million for the Sofia metro and 75 million for a children's hospital in Burgas. Additionally, the annual vignette for road use will increase by 30% to 64.50 euros starting in August, while the Pension Board has confirmed no intentions to change early retirement regulations.

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