Today, 2 April 2015, the Governing Council of the Bulgarian National Bank on the grounds of Art. 12, para. 1, item 6 of the Law on Bank Deposit Guarantee approved the Report on the implementation of BDIF administrative expenses budget for 2014. The Report was presented by BDIF Management Board.

BDIF administrative expenses budget for 2014 was approved by BNB Governing Council Decision of May 2014 where the total of expenditure amount to BGN 1,671,860. Upon decision by BNB Governing Council of November 2014 an expenditure increase of BGN 100,000 related to a commitment BDIF to cover the fees for interbank transactions in the KTB deposit payout was approved.

Reported expenses amount to BGN 1,464,879.60, which represents a saving of BGN 306,980, or about 17 per cent of the approved budget. The saving results from good operational management and cost optimization, whereas providing for normal conditions for the implementation of the statutory functions and tasks of the BDIF.