Fitch Ratings has raised the outlook on Bulgaria's Long-Term Foreign-Currency Issuer Default Rating (IDR) from stable to positive. The current assessment stems from lower macroeconomic risks associated with the Covid-19 crisis, the continuing interest in joining the euro zone, as well as the support from EU funds.
In the coming years, Bulgaria is expected to be one of the main beneficiaries of EU financing, including 16.6 billion euros (27% of GDP in 2020) under the multi-annual financial framework (2021-2027) and 7.5 billion euros (12% of GDP for 2020) in the form of EU grants under the NGEU mechanism. According to Fitch Ratings, this would increase economic growth from projected 3% in 2021 to 4-5% in the period 2022-2025.
In the long run, however, Fitch also points out a number of unfavorable factors, including the demographic structure of the population.
The caretaker government has instructed Deputy PM and Minister of Finance Lyudmila Petkova to submit, by 11 September, a proposal for amending the REpowerEU chapters of the recovery and resilience plan. This is being done so as to make the..
Andrey Gyurov will cease to perform his duties as Deputy Governor in charge of the Issue Department and Member of the Governing Council of the Bulgarian National Bank (BNB) until the court and parliament make a decision, the BNB announced. The..
The direct losses for Bulgaria from the delayed full accession to the Schengen Area amount to EUR 424 million, caretaker Minister of Economy Petko Nikolov said . He quoted a report by the Economic Research Institute at the Bulgarian Academy of..
Moody's expects Bulgaria to join the Eurozone no later than the beginning of 2026. According to the rating agency, the growth of the Bulgarian economy in..
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