The interest rates on deposits offered by the commercial banks to the local households and companies have reached new historical lows and are very close to zero (those in Euro offered to Bulgarian firms decreased to 0.38% on an annual basis). The interest rates on consumer loans fell for the first time under 10% since the end of the credit expansion in 2007. This is mainly due to the excessive liquidity of the banking system and to the negative interest rates levied by the Bulgarian National Bank on the excessive reserves of the commercial banks. The low profitability of the bank deposits already made some Bulgarian households and companies withdraw part of their savings and boosted consumption of services and items. The cheaper consumer loans, however, have not yet triggered substantial growth in lending.
On Wednesday , the lowest temperatures will be between 3 and 8°C. In the regions with strong wind it will be up to 10-12°C. In Sofia it will be around 4°C. In the western parts of the Danube Plain and the Upper Thracian Plain it will..
Following a series of fires in the Burgas area last summer, including one that destroyed homes in a local villa district, the Burgas municipality has acquired high-tech drones equipped with thermal cameras, night vision, and 3D imaging . The two..
Illegal migrants from Syria, Iraq and Iran have been discovered in Sofia, and ten members of an organised criminal group have been arrested , Deputy City Prosecutor Desislava Petrova told reporters. Two of those arrested have been charged as the..
Rain
Scattered showers