Bulgaria is experiencing imbalances. Vulnerabilities in the financial sector are coupled with high indebtedness and non-performing loans in the corporate sector. Meanwhile, the Bulgarian economy continues to grow- this country’s gross domestic product is expected to see a 3.6% increase in 2019 and 2020. The GDP debt ratio is expected to be around 26% which is one of the lowest in the European Union. The next external position has improved on the back of robust growth and large current account surpluses. While there is progress in addressing sources of imbalances, the full implementation and monitoring of recent reforms to supervision and governance in the bank and non-financial sectors will be crucial. More action is also needed to reduce the stock of non-performing loans and to complete the reform of the insolvency framework, the EC First Vice President Valdis Dombrovskis, responsible for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union said in his report on the Member States’ progress on economic and social priorities.
The National Grain Producer Association has reacted sharply to the European Parliament’s decision to increase tariffs on fertilizers from Russia and Belarus. According to Bulgarian farmers, this would lead to a drastic jump in..
Bulgarian Foreign Minister Georg Georgiev opened the first Bulgarian higher education institution outside Bulgaria in Taraclia, Moldova, the Ministry of Foreign Affairs announced. Mr Georgiev is in the city for today's celebrations for 24 May, the Day..
Over the next 24 hours, a Mediterranean cyclone passing through the Aegean Sea will cause unstable weather in Bulgaria. It will be mostly cloudy with heavy, widespread rainfall. Moderate winds will blow from the north-northwest and from the northeast..
During his participation in the 20th World Meeting of Bulgarian Media in Varshets, President Rumen Radev expressed concern that prices will rise as soon..
Cash in Bulgaria exceeds BGN 30 billion. The Association of Banks in Bulgaria is urging citizens to deposit their cash before the introduction of..
“We often say that Bulgaria extends as far as there are Bulgarians. In order for these spiritual borders of Bulgaria to be vibrant and strong, there..
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