The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real estate market in the country before and after the Global Financial Crisis. Initially, prices rose rapidly driven by demand stimulated by bank loans. After the crisis, prices fell due to difficulties in accessing financing and the sale of properties purchased with loans that could no longer be serviced," the analysis stated.
The Global Financial Crisis of 2008/2009 completely changed the situation. Access to credit became severely restricted and demand for real estate froze. This episode should not be forgotten and should always serve as a sobering reminder in the face of overly optimistic expectations about the property market, BNB warns.
It is extremely concerning that the largest company in Bulgaria, Lukoil Neftohim, which is part of the country's critical infrastructure, is still in the hands of a country that has declared Bulgaria a hostile state. This opinion was shared by energy..
“The divergence between the monetary and the fiscal policy pursued by the government continues to be the main reason why Bulgaria does not meet all criteria yet for entering the Eurozone,” Lyubomir Karimansky, member of the Governing Council of the..
Germany remains Bulgaria's strongest economic partner. Trade between the two countries for 2024 amounts to EUR 12 billion, said Tim Kurth, President of the German-Bulgarian Chamber of Industry and Commerce. At a ceremony held at the University of..
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