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.
According to the European Commission's spring economic forecast for this year, inflation in Bulgaria is expected to reach 3.1 % in 2024 and 2.6 % in 2025 . The anticipated downtrend in external prices is expected to limit inflation in both energy and..
In March 2024, 1,518 people in Bulgaria had deposits of more than BGN 1 million, while in March 2023, 1,277 Bulgarians had such deposits, according to the latest BNB data. Deposits between BGN 200 thousand and BGN 500 thousand grew the most..
In the first quarter of 2024, the country’s real GDP growth is expected to accelerate, which is a prerequisite for similar annual dynamics, the Bulgarian National Bank said in its regular economic review. The GDP growth is mainly due to the..
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