Fitch Ratings has affirmed Bulgaria's long-term foreign-currency issuer default rating (IDR) at 'BBB' with a positive outlook.
Bulgaria's ratings are supported by its strong external and public balance sheets versus 'BBB' peers and a credible policy framework, underpinned by EU membership and a long-standing currency board. In Fitch's view, Bulgaria should meet legal requirements for eurozone accession but the biggest obstacle remains the price stability criterion. HICP inflation in Bulgaria has been running above the rate of the three best performing EU member states since the beginning of the year and is expected to remain elevated throughout 1Q23. “We expect this year's GDP growth to be 3.5% (previous review: 3.0%) due to better-than-expected performance in 1H22 (…) We expect HICP inflation to remain in double digits throughout 1Q23 and to decelerate toward 5.5% yoy by end-2023,” the Fitch rating action commentary reads.
Bulgaria will meet the price stability criterion for joining the eurozone without the need for subjective calculations, said the Institute for Market Economics (IME), which refers to inflation data in recent months. Following a positive..
In the first quarter of 2025, the average quarterly total income per household member in Bulgaria was BGN 3,271 (€1,672), marking a 15.2% increase compared to the same period in 2024. This data comes from the Household Budget Survey by the National..
Bulgaria's main trading partners are Germany, Romania, Italy, Greece and France, which account for 62.5% of exports to EU Member States, according to NSI data. In February, exports of goods from this country to the EU decreased by..
According to data from the Bulgarian National Bank, household bank loans in Bulgaria surpassed €25.5 billion mark , reaching €25.59 billion by the end of..
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