The government's decision to transfer 50 million euros of grants from the European Commission aimed at the Bulgarian economy to the Fund of Funds, has not received approval from BIA.
In the fund, this money will be distributed as loans with interest, while the purpose was to be used free of charge as working capital under the European initiative REACT-EU. The Deputy Chairman of the association Tomislav Popdonchev pointed out that the transfer of grants for businesses to a loan guarantee program was contradictory to the objectives of REACT-EU and would delay overcoming the negative effects of the crisis. According to him, only one third of the resource for portfolio guarantees of the Bulgarian Development Bank and the Fund of Funds has been utilized so far. Therefore, it seemed incomprehensible to add another 50 million for portfolio guarantees, given that the Fund had enough resources that were obviously not used.
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 2024 and to 2.9% in 2025 as public investment increases along with EU funds. OECD expects inflation..
MPs have agreed to extend the 0% VAT on bread and flour, which was due to expire on June 30, until the end of 2024. Under the GERB proposal, traders will be allowed to add a maximum of 15% profit margin on bread, but the proposal is limited to the most..
Bulgargaz expects the price of natural gas next month to be 5 to 6% lower as compared to April. During an open meeting at the Energy and Water Regulatory Commission, the initially proposed price of EUR29.12 per megawatt-hour was reduced to EUR28.36. The..
The Bulgarian National Bank (BNB) announced that it is lowering the base interest rate to 3.63% as of July 1. In May and June, the base interest rate..
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