Finance minister Simeon Djankov resigns

Finance minister Simeon Djankov has resigned today at the request of prime minister Boyko Borisov. Dr. Djankov was visiting Washington at the time. In science circles he will be remembered for suggestions to disband the Bulgarian Academy of Science and the National Science Fund. While the protests of the scientists could not dislodge him, the unhappy farmers did - according to the newspaper Monitor his resignation was requested after he refused to pay agricultural subsidies (of 840 million lev value) in a timely manner. Disagreements over issuing 800 million lev of government bonds to pay for the subsidies could have also contributed to the request for his resignation.

Djankov is going to be replaced by Tomislav Donchev, former Mayor of Gabrovo, who was until now responsible for EU subsidies. The position of vice-prime minister (also held by Djankov) is going to the Minister of Regional Development and Urban Improvement, Lilyana Pavlova.

Dr. Simeon Djankov holds a PhD from the University of Michigan, Ann Arbor (1997). He later help positions as the World Bank and Harvard. His academic work, as well as his work at the World Bank, have focused on developing economies.