Fitch Ratings has raised the outlook on Bulgaria's Long-Term Foreign-Currency Issuer Default Rating (IDR) from stable to positive. The current assessment stems from lower macroeconomic risks associated with the Covid-19 crisis, the continuing interest in joining the euro zone, as well as the support from EU funds.
In the coming years, Bulgaria is expected to be one of the main beneficiaries of EU financing, including 16.6 billion euros (27% of GDP in 2020) under the multi-annual financial framework (2021-2027) and 7.5 billion euros (12% of GDP for 2020) in the form of EU grants under the NGEU mechanism. According to Fitch Ratings, this would increase economic growth from projected 3% in 2021 to 4-5% in the period 2022-2025.
In the long run, however, Fitch also points out a number of unfavorable factors, including the demographic structure of the population.
The pig meat sector in Bulgaria is showing signs of growth. This was announced at the International Forum "Modern Trends in Pig Farming: Scientific, Market and Regulatory Aspects", held today in Stara Zagora. It was highlighted that 53% of the..
The total output at basic prices from the agriculture sector in 2024 amounts to €4,970.1 million, which is 7.9% less compared to the previous year. This decline is due to two main factors: a 3.2% decrease in the quantity of agricultural..
One of the largest cargo ships in the world docked for the first time at the Port of Varna, delivering 58,000 tons of rapeseed, BGNES reported. The shipment arrived from Canada and will be refined in Bulgaria. The delivery was made due to a..
The positive convergence report will have a positive impact on people's standard of living and purchasing power, as well as on the country’s business..
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