Banker Violina Marinova: There is only theoretical probability of raising interest rates due to political instability

“Citizens can be at ease about their savings. The probability of raising the interest rates as a result of increasing Bulgaria’s risk premium due to the political instability in our country is only minimal,” Violina Marinova, head of DSK Bank told Darik Radio. She explained that theoretically, if the CDS of the country soars, this will result in increasing interest rates but she hopes that will not happen in this case and quick, appropriate steps will be taken in order to handle the situation.

Marinova added that Bulgaria’s economy is already stagnant, without any growth and the unemployment rate is at a high level. However, we cannot expect something better to happen if fast decisions are not made, added Marinova.

Another banker, who demanded anonymity, commented that there is no danger of the fear of economic instability to lead to exchanging the deposits in Bulgarian leva into deposits in Euros or US dollars. “Bulgarian governments have fallen before and caretaker governments have been appointed several times in our history. Therefore, the present situation is not unknown to our people,” commented the expert.

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