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.
Today, t he Rozhen Monastery "Nativity of the Theotokos" will celebrate its patron saint's day with a procession with the miraculous icon of "Theotokos – Portaitissa" and a blessing of the sacrificial (kurban) meal. The monastery lost its..
It will be sunny on Sunday with a temporary increase in cloudiness over the eastern parts of the country and the mountains in the afternoon . Daytime highs will range from 25°C and 30°C, for Sofia around 27°C. It will be mostly sunny over the..
Tsanko Tsankov became the first swimmer to cover a distance of over 100 kilometers in the Danube River. "Tsanko Tsankov did it! 108 kilometers and 250 meters in the Danube River – 18 hours, 12 minutes and 32 seconds! Non-stop swimming!..
From today until September 15, Sofia's Vitosha boulevard and the park in front of the National Palace of Culture are transformed into a huge open-air..
Over a hundred participants in the voluntary teams of the Bulgarian Red Cross for disaster and crisis action, as well as representatives of the..
The two wings of the Movement for Rights and Freedoms party, which intend to participate in the early parliamentary elections on October 27 in coalitions,..
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