Banks' interest incomes on loans have decreased, while their interest expenses on deposits are on the rise.
In the near future, the trend of deposit growth and slowdown in lending activity will continue to develop. This is the forecast of the Association of Commercial Banks, quoted by BNR reporter Marta Mladenova. The trend is due to the slow economic activity caused by the Covid-19 crisis. The decline in loans and fee and commission incomes, as well as low interest rates, has led to a 26% drop in net profit in the banking sector on a quarterly basis in the second quarter of 2020.
After the election for parliament on 27 October, the caretaker government has to submit a draft of a budget for 2025 to parliament by the end of the month. Some economic analysts say the budget of the country for 2024 is the worst in the past decade. Holes..
Bulgaria's economy will grow by 2.3 per cent this year. This is according to the latest World Economic Outlook prepared by the International Monetary Fund and presented today in Washington. This is down from the Fund's April estimate, which predicted that..
In 2023, the government budget deficit was 2% of GDP or €1.9 billion. This is indicated by the final data of the National Statistical Institute. This is a significant narrowing of the budget deficit compared to the previous 3 years...
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