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.
Bulgaria has the opportunity to reap the full benefits of eurozone membership , but this will require stronger fiscal discipline, effective management of transition risks, and accelerated structural reforms , the International Monetary Fund (IMF)..
In mid-September, the traditionally great Christian feast of the Holy Cross (September 14) marks the beginning of one of the most anticipated agricultural processes – the grape harvest campaign. 2025 is no exception, but due to a number of factors, the..
Bulgaria's Ministry of Finance placed 7-year government securities on the domestic market for 300 million leva. (144 million euros) and an interest rate of 3.25%. The submitted purchase orders amounted to 446 million leva with a coverage ratio of 1.49...
In 2024, 8.2% of people aged 18 or over who declared to be at work (either employed or self-employed) in the EU were at risk of poverty, according to..
Citizens should remain calm about the introduction of the euro in Bulgaria from January 1, 2026, as the Bulgarian National Bank and commercial banks are..
Bulgaria’s Ministry of Finance has published the draft state budget in euros for 2026. The country’s GDP is projected to reach EUR 120.1 billion, with..
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