The ruling
Democratic Alliance won a majority by itself and
Andrey Lyapchev remained Prime Minister. In May 1931 a faction of the
NLP joined the government with two ministers. In 1927 the government signed the , which regulated the real estate assets left behind by Bulgarians expelled from Greece and Greeks from Bulgaria after the First World War. In the aftermath of the
1928 earthquakes, the government secured a foreign loan, which, alongside the two years prior, helped stabilize the
Bulgarian lev. The period between 1928 and 1931 was characterized by the increasing influence of tsar
Boris III and growing ties to
Fascist Italy, culminating in Boris' marriage to
Giovanna of Savoy. Lyapchev, a
Macedonian Bulgarian, took a hardline stance on the improvement of the conditions of Bulgarians in
Macedonia, resulting in the closing of the Bulgarian-Yugoslavian border in 1929. The
Great Depression in Bulgaria, usually seen as being ushered in by the bankruptcy of the in October 1929, had a strong effect on Bulgaria's mostly agricultural and
light industry dominated economy. Production fell by over 30% in the first three years of the crisis, resulting in mass unemployment. ==Notes==