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Simeon DjankovMinister of Finance of Bulgaria
Date of Birth: 13.07.1970
Country:  Bulgaria |
Content:
- Early Life and Education
- Career at the World Bank
- Doing Business Report
- Research and Ideas42
- Bulgarian Minister of Finance
Early Life and Education
Simeon Djankov was born on July 13, 1970, in Sofia, Bulgaria. From 1984 to 1989, he attended a specialized foreign-language high school in Lovech. In 1989, he scored the highest entrance exam results in Bulgaria, earning him admission to the Karl Marx Institute of Economics (now the University of National and World Economy). Djankov obtained his doctorate in economics from the University of Michigan in Ann Arbor.
Career at the World Bank
Djankov embarked on a successful career at the World Bank in Washington, D.C., in 1995. During his 14 years at the institution, he held various positions, including Senior Economist in the Private Sector and Financial Markets Department. He worked in over 100 countries, including Afghanistan, Azerbaijan, Brazil, and Kazakhstan.
Doing Business Report
In 2004, after the Rose Revolution in Georgia, Djankov became heavily involved in the country's reform efforts. Inspired by his experience in heavily regulated socialist economies, he co-authored the inaugural Doing Business report with Professor Andrei Shleifer of Harvard University.
The report, which has been widely cited and has sold over 100,000 copies, assesses the regulations that shape business activities across countries. Djankov also established the Doing Business and Crisistalk blogs to discuss the impact of regulatory reforms and the global financial crisis, respectively.
Research and Ideas42
In 2008, Djankov co-founded Ideas42, a research center at Harvard University that explores economic issues facing the poor, small business development, and access to finance. The center collaborates with the Gates Foundation and the Institute for Financial Management and Research in India.
Bulgarian Minister of Finance
On July 27, 2009, Simean Djankov became Bulgaria's Minister of Finance (Deputy Prime Minister). As the second youngest Minister of Finance in the European Union after George Osborne of the United Kingdom, Djankov was responsible for reforms in public administration, healthcare, higher education, and pensions.
His tenure was marked by a reduction in budget expenditures and the successful reduction of Bulgaria's budget deficit in 2009, followed by a balanced budget in 2010.
