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Fitch affirms Bulgaria's credit rating at ‘BBB’ with stable outlook

Bulgaria can adopt the Euro in 2024 at the earliest

published on 8/22/20 10:58 AM

Photo: EPA/BGNES

The international rating agency Fitch has confirmed Bulgaria's long-term credit rating in foreign and local currency "BBB" with a stable outlook, the press center of Bulgaria's Ministry of Finance announces.

The rating is supported by the strong external and fiscal balances, as well as by a credible policy framework supported by membership of the European Union and the long-standing functioning of the currency board. The limiting factors for the rating are both lower income levels compared to countries with the same rating and unfavourable demographic factors that could limit growth and put pressure on public finances in the long run.

According to Fitch, Bulgaria's accession to ERM II and the Banking Union in July 2020 is an important achievement. Bulgaria can adopt the euro at the earliest in January 2024, the agency predicts.

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Bulgargaz proposes that the price of natural gas for December be set at 75.89 BGN/MWh

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Fitch affirms Bulgaria's credit rating at ‘BBB’ with stable outlook

Bulgaria can adopt the Euro in 2024 at the earliest

More from category

Local authorities call for urgent reform of Bulgaria's planning districts

Bulgargaz proposes that the price of natural gas for December be set at 75.89 BGN/MWh

The value of the small consumer basket in Bulgaria has not changed in a year

Bulgargaz proposes that the price of natural gas for December be set at 75.89 BGN/MWh

Local authorities call for urgent reform of Bulgaria's planning districts