The interest rates on deposits offered by the commercial banks to the local households and companies have reached new historical lows and are very close to zero (those in Euro offered to Bulgarian firms decreased to 0.38% on an annual basis). The interest rates on consumer loans fell for the first time under 10% since the end of the credit expansion in 2007. This is mainly due to the excessive liquidity of the banking system and to the negative interest rates levied by the Bulgarian National Bank on the excessive reserves of the commercial banks. The low profitability of the bank deposits already made some Bulgarian households and companies withdraw part of their savings and boosted consumption of services and items. The cheaper consumer loans, however, have not yet triggered substantial growth in lending.
Hungary’s Deputy Interior Minister Bence Retvari stated that the abolition of Bulgaria and Romania’s Schengen borders by land is very important to the Hungarian presidency of the Council of the EU. We want to reach a decision by the end of the..
Yesterday, a new attempt was made to insinuate that Bulgaria would give cash to Ukraine, GERB leader Boyko Borissov said in parliament. At the closed session of the National Assembly discussing the NATO Summit in Washington, it became..
Bulgarian archaeologists have found a very well-preserved two-meter-high statue with a head In the ancient city of Heraclea Sintica. It was made by an artist who used a whole marble block to make the statue in the 2nd century AD..
Sunday will be sunny and hot. There will be weak to moderate northeasterly wind. Temperatures will continue to rise and the highest..
The new Bulgarian Patriarch, Daniil, has spoken out in favour of reconciliation within the Orthodox churches. "There is a broken communion between..
If a referendum was held on whether to continue the country's membership in NATO, 59% of Bulgarians would answer affirmatively,..
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