Bulgaria is experiencing imbalances. Vulnerabilities in the financial sector are coupled with high indebtedness and non-performing loans in the corporate sector. Meanwhile, the Bulgarian economy continues to grow- this country’s gross domestic product is expected to see a 3.6% increase in 2019 and 2020. The GDP debt ratio is expected to be around 26% which is one of the lowest in the European Union. The next external position has improved on the back of robust growth and large current account surpluses. While there is progress in addressing sources of imbalances, the full implementation and monitoring of recent reforms to supervision and governance in the bank and non-financial sectors will be crucial. More action is also needed to reduce the stock of non-performing loans and to complete the reform of the insolvency framework, the EC First Vice President Valdis Dombrovskis, responsible for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union said in his report on the Member States’ progress on economic and social priorities.
President Rumen Radev spoke with Ombudsman Diana Kovacheva as part of the consultations on a caretaker prime minister. After the meeting with the head of state, Ms. Kovacheva told the media that she could not take up the post because she had been..
After a meeting with President Rumen Radev, Bulgarian National Bank (BNB) Deputy Governor Petar Chobanov said that the consultations with the head of state and the potential candidates for caretaker prime minister were at a stage where there was no..
The United States has congratulated seven Eastern European countries, including Bulgaria, on the 20th anniversary of their accession to NATO . A statement by Secretary of State Anthony Blinken said: "Twenty years ago, as you became Allies, we were..
The government has designated three Bulgarian carriers to operate international flights between Bulgaria and China. Compass Cargo Airlines will..
On Thursday, minimum temperatures in Bulgaria will be between 7 and 12°C, 8°C in Sofia. Around midday, there will be variable cloudiness with sunny..
There Is Such a People (ITN) thanked President Rumen Radev for placing his trust in them, and handed the third and last mandate for forming a..
+359 2 9336 661