The Bulgarian National Bank, BNB, has lowered the macroeconomic GDP growth outlook by 0.2%, and believes that by the end of 2021 it will be 3.9%.
“In view of the postponement of the implementation of nationally-financed infrastructure projects, as well as the slower rate of absorption of funding under EU programmes during the year and the development of business indicators, during the second half of the year we are expecting companies to remain wary with regard to investment costs,” are some of the motives for the BNB’s pessimism.
The BNB is expecting the GDP growth rate to be 4.7% in 2022, and 3.8% in 2023. Inflation in 2021 is expected to reach 3.8%, though the forecast does not register the price volatility in energy.
In May, the economic situation in the country improved for a second month in a row. There was an improvement in retail trade, construction and services, but there was a decline marked in industry. In construction, industry and services, no price..
The Bulgarian National Bank held an auction for the sale of securities with 3-year maturity at a 3% interest rate. At the auction, the Ministry of Finance offered bonds worth EUR 150 million. Interest will be paid once in 6 months, with the loan..
The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real..
Clear
Partly Cloudy