Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Parliament sets up ad-hoc committee to investigate USD 1 bn. deal with Gemcorp

Photo: BGNES

After fierce debate, the MPs adopted, with full unanimity, the motion by GERB party for the formation of an ad-hoc committee to look into all circumstances concerning the signing and the termination of the memorandum with Gemcorp Holdings Limited and IP3 Corporation by the Kiril Petkov government, BGNES reports.

According to Kiril Petkov, then prime minister, the memorandum was expected to yield investments amounting to USD 1 bn. in green energy. According to We Continue the Change, the issue is no longer relevant, as the memorandum has been terminated and the matter is now being played up to divert attention from the real issue – that GERB is unable to form a government. However, We Continue the Change supported the establishment of an ad-hoc committee because “it has nothing to be afraid of”.

Kiril Petkov’s government declared it had terminated the memorandum on 20 July and the country will not be liable to pay any compensation. “We simply terminated it today so the matter will no longer be subject to speculation,” Kiril Petkov said at the time. A few days ago, GERB party stated they had documents according to which the agreement has not been terminated.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Bulgarian authorities crack down on illegal citizenship scheme in Sofia

Security agencies in Bulgaria, DANS (State Agency for National Security) and GDBOP (General Directorate Combating Organized Crime), are carrying out an operation in Sofia targeting a group suspected of illegally granting Bulgarian citizenship...

published on 7/2/25 5:56 PM

“If we can import doctors for $500, why not MPs for 500 leva?” — President Radev’s sharp retort to Toshko Yordanov

In a declaration, MPs from the We Continue the Change–Democratic Bulgaria (PP–DB) coalition called for Toshko Yordanov, the chair of the Culture Committee and an MP from There Is Such a People, to resign. This followed his controversial comments about..

published on 7/2/25 5:45 PM

Checks are being carried out for illegal trade in Bulgarian seaside resorts

The Ministry of Tourism has carried out nearly 200 checks in Bulgarian Black Sea resorts over the past month, Minister Miroslav Borshosh reported.  An inspection is currently underway in Sunny Beach. “We want to put a stop to all types of illegal..

published on 7/2/25 3:01 PM