Text size

Fitch Ratings: Sofia could be ready to adopt the euro in early 2025

Fitch has affirmed Bulgaria's long-term foreign currency issuer default rating at BBB with a positive outlook

published on 10/19/24 1:43 PM

Photo: EPA/BGNES

International rating agency Fitch Ratings has affirmed Bulgaria's long-term foreign and local currency credit rating at BBB with a positive outlook, the Finance Ministry said. The positive outlook reflects the country's prospects for eurozone membership, which would further improve its external position indicators.

"Bulgaria met all the euro-adoption nominal convergence criteria apart from price stability according to the 2024 Convergence Report, which was released in mid-2024. Since then inflation in Bulgaria has continued to decline, narrowing the gap between average inflation in the country and that of the three best performing EU member states," the agency pointed out.

In Fitch's view, Bulgaria could meet the price stability criterion in early 2025, depending on inflation developments across the EU.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy bulgaria euro fitch rating positive outlook

More from category

Jesus Caballero grabs Manager of the Year Award for 2024

If the political crisis continues, the lost benefits will reach a threshold after which the Bulgarian business will begin to lose competitiveness due to growing deficits in education, healthcare, infrastructure, regional development and demographics...

published on 11/5/24 9:54 AM

The Institute for Market Economics calls for budget deficit below 3%

We are moving towards the option of not having a quickly adopted budget for 2025, Lachezar Bogdanov, chief economist from the Institute for Market Economics, told BNR. In presenting the institute's alternative state budget, the..

published on 11/4/24 11:27 AM

The five largest Indian IT companies already have offices in Bulgaria

Bulgaria and India will intensify their cooperation in various sectors of mutual interest. This was discussed at a meeting of the Bulgarian Minister of Economy Petko Nikolov with Ambassador of India to Bulgaria H.E. Sanjay Rana. The two focused..

published on 10/31/24 5:48 PM

WEATHER

Pick city: Sofía

Wet snow
Min: 0 | Max: 3

BULGARIA IN PICTURES

Which world-famous Bulgarian artist designed QSL cards for Radio Bulgaria?

The value of the small consumer basket in Bulgaria has not changed in a year

Butter and vegetable oil are the products that have increased in price the most over the year. The retail price of vegetable oil will range between 3..

published on 11/29/24 5:05 PM

Share