“A gradual transition is apparent in the country - from a closing of the economy to a revival and recovery. This is confirmed also by the level of unemployment, which as of 2 June stood at 5.65%, a drop of 37% compared to a year earlier,” Minister of Labour and Social Policy in the caretaker government Galab Donev announced.
The 60/40 measure stimulating employment will be extended by another two months. More than 700 million euro has been spent so far. “We shall continue to draft new measures until the end of the year, so that Bulgarian employers will feel they have solid support from the state making them be competitive with other employers from the EU countries,” Minister Donev said.
“We are giving banks a free hand. SMEs will be able to affect a swift revival and have access to circulating capital,” Minister of Economy in the caretaker cabinet Kiril Petkov stated. With a 1.25 billion euro fund the state will guarantee before commercial banks that the loans for businesses shall be granted without security. “This means that within the space of 10 days you can apply only if you are a genuine business with documents going back 3 years, and get up to 80% of your earnings,” Kiril Petkov. He described the 10-day application deadline as unprecedented. The loans will have a repayment term of up to 7 years. Self-employed persons shall also be able to avail themselves of this credit instrument, BNR’s Marta Mladenova reports.
200 million Leva (over EUR 102 million) of new debt is expected to be taken out on 13 May this year, according to the Bulgarian National Bank website. This is the date on which an auction has been announced for 6-month treasury bonds with an annual..
Fitch Ratings has affirmed Bulgaria's long-term foreign-currency Issuer Default Rating (IDR) at 'BBB' with a positive outlook. Bulgaria intends to request a reassessment of its progress on convergence criteria in 2H24, which should allow for..
The poverty threshold in Bulgaria was BGN 637.92 (EUR 323) per person per month in 2023. This is an increase of 21.3 per cent compared with the previous year , when the indicator was BGN 525.92 (EUR 266), the National Statistical Institute said. I..
The Organisation for Economic Co-operation and Development (OECD) forecasts an acceleration in Bulgaria's economic growth from 1.8% in 2023 to 2.5% in..
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