The Bulgarian National Bank (BNB) has approved the merger of KBC Bank Bulgaria (former Raiffeisenbank Bulgaria) and the United Bulgarian Bank (UBB). The decision is in implementation of an instruction of the European Central Bank, the BNB said. The operation is part of the financial measures that need to be supported by the Bulgarian National Bank as a member of the Single Supervisory Mechanism (SSM). After the transformation, UBB becomes the universal legal successor of KBC Bank Bulgaria which is dissolved without liquidation.
The Organisation for Economic Co-operation and Development (OECD) forecasts an acceleration in Bulgaria's economic growth from 1.8% in 2023 to 2.5% in 2024 and to 2.9% in 2025 as public investment increases along with EU funds. OECD expects inflation..
MPs have agreed to extend the 0% VAT on bread and flour, which was due to expire on June 30, until the end of 2024. Under the GERB proposal, traders will be allowed to add a maximum of 15% profit margin on bread, but the proposal is limited to the most..
Bulgargaz expects the price of natural gas next month to be 5 to 6% lower as compared to April. During an open meeting at the Energy and Water Regulatory Commission, the initially proposed price of EUR29.12 per megawatt-hour was reduced to EUR28.36. The..
The Bulgarian National Bank (BNB) announced that it is lowering the base interest rate to 3.63% as of July 1. In May and June, the base interest rate..
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