Zhan Videnov - Term in Office

Term in Office

Despite promises for change, the stagnation that had characterized the entire post-communist period since 1989 persisted during Videnov's term, as did the shady privatization schemes,the underfunding of social services, government inaction against organized crime groups such as VIS-2, SIC and Multigroup, alleged government patronizing of dingy business groups (such as the so-called "Orion friend circle") and the emigration of young and educated Bulgarians. Despite this, the BSP still had popular support for a time, as it was able to win the local elections in 1995. One significant initiative was the government's launching of a campaign for mass privatization, in which ordinary middle-class citizens were to acquire shares in the factories and firms that were being de-nationalized.