Bulgaria’s Borissov Makes a Bid to Form a Cabinet to End Crisis

(Bloomberg) -- Former Bulgarian Prime Minister Boyko Borissov’s party proposed a government lineup on Monday in an effort to end political turmoil.

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A cabinet under Premier-designate Rosen Zhelyazkov would need to secure a parliamentary majority. Borissov’s party, Gerb, doesn’t have enough lawmakers to rule alone, and after years of corruption scandals, most parties in parliament refuse to back it for a fourth cabinet.

Borissov, who ran three governments for more than a decade until 2021, came first in a snap election last month. Bulgaria is mired in a years-long political crisis that’s hindered its efforts to join the euro area and delayed billions of euros in European Union recovery funding.

Zhelyazkov is likely to have the support of one more party, the Movement for Rights and Freedoms, led by Delyan Peevski, a former media mogul sanctioned by the US and the UK for graft.

If the cabinet fails to win approval, Peevski’s party, which came second in last month’s election, will get a shot at forming a government. Three unsuccessful attempts to win the vote of confidence will lead to another election in the fall.

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