Fitch Ratings has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB' with a Positive Outlook, reported BTA.
''Bulgaria's ratings are supported by its strong external and public finance balance sheets versus 'BBB' peers and credible policy framework, underpinned by EU membership and a long-standing currency board. This is balanced against low labour productivity and unfavourable demographics, which weigh on potential growth and government finances over the long term'', Fitch Ratings said.
The Positive Outlook reflects the prospects for euro adoption, which would lead to further improvement in external metrics, Fitch Ratings noted.
Fitch has revised its 2025 growth forecast up to 3.1%, from 2.5% expected in October 2024, due to the stronger carry-over effect and improved domestic political situation. Strong nominal wage growth will continue to support private consumption, the analysis further reads. The agency notes that it ''remains cautious about the capacity and pace of reform implementation, but EU funds flows should increase and will support investment activity''.
The Bulgarian National Bank (BNB) has again reduced the key interest rate in the country . As of May 1, it will now be 2.24 percent. The decrease compared to April is 0.15%, when it was 2.39 percent. This is the eighth consecutive month of a decrease in..
An analysis by the Ministry of Economy and Industry shows that in 2024, Bulgaria's trade with the United States accounted for 1.7% of the country’s total trade volume, with exports to the U.S. making up 2.6% of total exports and imports from the U.S...
Around 4 billion euros in debt have been raised from international markets through two bond issues, market analysts confirmed to BNR. The amount was raised through issues of 9-year and 13-year bonds – marking the country’s first entry into the..
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