Born on 3 June 1980 in Sofia.
Master of Law from the University of National and World Economy with additional qualification in the field of Financial Management from UNWE. He has a good command of spoken and written English.
From 2004 to 2010 Karanikolov served as jurist at the "Legal and regulatory services" of Sofia Municipality.
For the period from 12.01.2010 to 27.05.2010 Karanikolov was Director for "Administrative Control, Regional Development and State Property" with the Regional Administration of Sofia.
From 2010 to 2017 Karanikolov served as Executive Director of the Agency for Privatization and Post-Privatization Control.
Karanikolov was elected Minister of Economy on 4 May 2017 by the 44th National Assembly.
Married, with two children.