Fitch Ratings has affirmed Bulgaria's long-term foreign-currency Issuer Default Rating (IDR) at 'BBB' with a positive outlook.
Bulgaria intends to request a reassessment of its progress on convergence criteria in 2H24, which should allow for eurozone entry later in 2025. In Fitch's view, Bulgaria could comply with the price stability criterion in 4Q24 at the earliest, conditional on inflation developments across the EU.
Bulgaria is on course to meet all other euro-adoption nominal criteria (public finances, interest rate and exchange rate). Nonetheless, a lack of stable government and potentially lengthy coalition negotiations could delay the eurozone entry beyond 2025. Overall, we consider euro adoption as supportive to the rating, Fitch writes.
The Agency expects average HICP to be 3.3% in 2024 and 2.9% in 2025, down from 8.6% in 2023. Fitch expects real GDP growth to accelerate to 2.4% in 2024 and further to 3.1% in 2025.
The final price proposed by Bulgargaz for the sale of natural gas to its customers in October is BGN 63.72 (EUR 32.58) per megawatt-hour before tax. The 3% price increase is expected to be approved by the Energy Regulatory Commission. The October price..
T he LNG terminal near the Greek town of Alexandroupolis has officially srarted commercial operations today, the Greek company Gastrade announced. The facility features state-of-the-art technology with a maximum regasification capacity of 5.5 billion..
In September, the overall Business Climate Indicator for the country decreased by 1 point compared to August. The decline reflects a less favourable assessment in the industry sector, where the indicator fell by 5.2 points. Managers in industry reported..
On October 4, 1974, the construction of the Hemus Motorway from Sofia to Varna started. Back then, the chairman of the State Council and..
2024 is the best year since tourism statistics have been in existence – revenues, accommodation, number of tourists and tourist registrations, number of..
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