Bulgaria’s banks entered the current crisis well prepared, because a lot was done in the recent years, the Governor of the Bulgarian National Bank Dimitar Radev pointed out during the opening of the new academic year at the University of National and World Economy, quoted by BGNES. Dimitar Radev emphasized the unprecedented asset quality review and the stress tests performed by the Bulgarian National Bank and the European Central Bank. In his words, in the beginning of the crisis, the banks undertook additional measures to boost their liquidity. The good condition of the banks allowed them to create conditions for mitigating the consequences of the crisis for business and citizens. The main instrument used for this purpose is the so-called “private moratorium” on bank loan payments. More than 14,000 enterprises and over 93,000 households have benefitted from this measure and got payment deferrals to the tune of EUR 4.6 billion.
Bulgaria fulfils three of the Maastricht criteria for joining the euro zone, but still does not meet the price stability and inflation targets, according to a report by the European Commission, as quoted by BTA. Bulgaria does not currently meet the..
Bulgaria will receive €65.2 million from the EU for a project to reinforce the electricity grid to better support the integration of renewable energy, the European Commission said in a statement. The money is part of a total of nearly €3 billion..
Bulgaria ranks 58th out of 67 countries in the World Competitiveness Yearbook of the Institute for Management Development (IMD), Switzerland. The country has shown a lack of progress since 2021 and dropped 10 positions compared to 2020 and 20..
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