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Fitch affirms Bulgarian Development Bank at 'BBB', outlook positive

Fitch Ratings has affirmed Bulgarian Development Bank AD's (BDB) Long-Term Issuer Default Rating (IDR) at 'BBB'. BDB's IDRs are equalised with Bulgaria's (BBB/Positive), reflecting a high probability of support from the sovereign, in case of..

published on 8/9/23 8:27 AM

Arab investors acquire assets in Bulgarian telecommunication sphere

The Czech PPF Group and the Arab Emirates Telecommunication Group Company (e&) have signed an agreement that e& will acquire 50% stake plus one share in PPF Telecom's assets in Bulgaria, Hungary, Serbia and Slovakia. The..

published on 8/2/23 9:15 AM

Gas in August cheaper by 1.4%

The Commission for Energy and Water Regulation approved the price of natural gas for August in the amount of BGN 59.67/MWh, excluding taxes and fees. At this price, Bulgargaz will sell natural gas to final suppliers and to persons who have been issued a..

published on 8/1/23 6:44 PM
Finance Minister Assen Vassilev

Bulgaria must quickly renegotiate clauses of the Recovery Plan

The 2023 state budget with a 3% deficit is feasible and does not "tighten the belts", Finance Minister Assen Vassilev told Nova TV. A total of BGN 250 million (EUR 125 million) has been additionally allocated for salary increases in various sectors,..

published on 7/31/23 9:25 AM

Budget 2023 is provisional, economic policies for 2024 will be important.

The budget for 2023 comes into force late, we cannot expect miracles or anything extraordinary to happen in the next 5 months, Eurofound Executive Director Ivaylo Kalfin told BNR. "This budget is simply so that we have a budget to the end of the..

published on 7/30/23 12:53 PM

Bulgaria finally has a “sensible budget” for 2023

After a mammoth 20-hour sitting, the Bulgarian MPs finally adopted the state budget for the year. It is calculated with a deficit of 3% - on an accrual basis, and preserves a large part of the initial capital programme. The budget is expected to be..

published on 7/28/23 1:27 PM

NSI: International travel doubled in 2023 compared to levels in 2022

Bulgarian nationals' international travel increased by 16.1% in June compared to last year, according to a survey by the National Statistical Institute. Their total number amounted to 790 300.  The highest number of travels was to Turkey - 214 900,..

published on 7/27/23 2:36 PM

Bulgargaz: No gas price increase in August 

Natural gas prices in August will remain the same or slightly lower than in July , Bulgaria's largest gas distribution company Bulgargas predicted during a discussion at the Energy and Water Regulatory Commission. Two weeks ago, forecasts anticipated a..

published on 7/27/23 2:20 PM

Budget deficit of 3% for 2023 is achievable

It is achievable to keep to a deficit of 3 percent, Petar Ganev, senior researcher at the Institute for Market Economy has told BNR. "We don't have pitfalls in the budget that are insurmountable. With a strict position of the finance..

published on 7/25/23 11:53 AM

Annual inflation below 10% in June

In June, the monthly rate of change of consumer prices in Bulgaria was negative -0.4 per cent and the annual inflation rate for June 2023 against June 2022 was 8.7 per cent, the National Statistical Institute said.  Deflation in the overall index..

published on 7/17/23 1:27 PM