Bulgarian minister withdraws resignation

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Bulgarian finance minister Milen Veltchev has announced the withdrawal of his resignation, which he had announced earlier this month

The resignation had been prompted by a lack of support for Veltchev's plans to close Bulgaria's border duty-free stores by the end of this year, as part of his brief to crack down on smuggling and counterfeit goods.

Last month the government drafted legislation to reverse Veltchev's decree banning border duty-free, but a final decision on the matter will not be made until September. The finance minister's decision to remain in place will cause concern among operators, already outraged by Veltchev's earlier decision to revoke three duty-free licences, awarded to local companies Transimpex, Corecom Princess and Deneb?only five days after they were issued (see DFNI eXTRA August 13).

Further updates and reaction will appear on travelretailworld and in the September 1 issue of DFNI.