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.
From today until July 20, the International Folklore Festival "Vitosha" will be held at the foot of Vitosha Mountain. Performers from Bolivia, India, Italy, Albania, Mexico, Kazakhstan, Moldova, North Macedonia and Bulgaria will introduce the..
From July 15 until August 4, eighty-eight people from three continents will study Bulgarian at the University of Veliko Tarnovo. The International Summer Seminar on Bulgarian Language and Culture will be held for the 47th year, offering..
It will be sunny and hot on Monday. Cumulus clouds will form over the eastern parts of the country with no chance of precipitation. Daytime highs will range from 36°C to 41°C, for Sofia around 37°C. It will be sunny along the Black Sea coast..
The 12 km perimeter of the big fire north of the city of Stara Zagora has been cordoned off , the regional governor Metodi Markov said. There are..
Caretaker Prime Minister Dimitar Glavchev has established a task force to combat the wildfires in the country. Today, he visited the Stara Zagora..
Tuesday will be sunny and very hot. Minimum temperatures will be between 17 and 23°C, 17°C in Sofia. Maximum temperatures will be between 37 and 42°C,..
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