The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real estate market in the country before and after the Global Financial Crisis. Initially, prices rose rapidly driven by demand stimulated by bank loans. After the crisis, prices fell due to difficulties in accessing financing and the sale of properties purchased with loans that could no longer be serviced," the analysis stated.
The Global Financial Crisis of 2008/2009 completely changed the situation. Access to credit became severely restricted and demand for real estate froze. This episode should not be forgotten and should always serve as a sobering reminder in the face of overly optimistic expectations about the property market, BNB warns.
MPs have agreed to extend the 0% VAT on bread and flour, which was due to expire on June 30, until the end of 2024. Under the GERB proposal, traders will be allowed to add a maximum of 15% profit margin on bread, but the proposal is limited to the most..
Bulgargaz expects the price of natural gas next month to be 5 to 6% lower as compared to April. During an open meeting at the Energy and Water Regulatory Commission, the initially proposed price of EUR29.12 per megawatt-hour was reduced to EUR28.36. The..
200 million Leva (over EUR 102 million) of new debt is expected to be taken out on 13 May this year, according to the Bulgarian National Bank website. This is the date on which an auction has been announced for 6-month treasury bonds with an annual..
Mostly Cloudy
Partly Cloudy
sunshine, cloud, rain and thunder