The Bulgarian National Bank, BNB, has increased its reserves by over 1 billion euro. This took place after the increase of the special drawing rights allocated by the International Monetary Fund, BNB has announced. With the increase, as of 23 August the total amount of BNB’s special IMF drawing rights will reach around 1.7 billion euro.
Earlier, International Monetary Fund Managing Director Kristalina Georgieva described the allocation of a total of 650 billion USD for the member countries as a “historic decision” and “a shot in the arm for the global economy at a time of unprecedented crisis. It will particularly help our most vulnerable countries struggling to cope with the impact of the COVID-19 crisis.”
The National Assembly postponed the discussion and voting of the most important fiscal law of the land – the national budget for 2025 – for next year. “If we do not have an approved budget by 19 January, then everything in the country will grind to a..
41% of the member companies of the Bulgarian Industrial Association expect an economic decline in 2025. 21% believe there will be no change compared to 2024. 65% of the respondents anticipate a deterioration in their own business due to the..
The price of electricity for households could increase by nearly 9% starting next year, according to estimates by the Energy and Water Regulatory Commission. This means that with an average consumption of nearly 400 kilowatt-hours, the monthly bills..
In 2024, Bulgaria's exports of goods to third countries decreased by 5.1% compared to 2023, amounting to EUR 15.4 billion (30 114.9 million BGN),..
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