The geographical structure of Bulgaria’s external debt has changed significantly since 2002, the Bulgarian National Bank announced. In the past, most government bonds were owned by American pension funds. Now, 80% of the bonds are owned by European banks and pension funds. About 16% of the government bonds are bought by Bulgarian investors.
Over 80% of Bulgaria’s external debt is in Euros, 8% is in US dollars and the rest is in Bulgaria Leva and other currencies. Bulgaria enjoys significant interest among investors and pays interest rates typical of a rich country. Most new loans are borrowed to refinance old debts and net debt is not growing, which is one of the conditions for Eurozone membership, the Bulgarian National Bank further notes.
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..
IT is one of the leading sectors in terms of salary increases and interest by job seekers in Bulgaria. Before the pandemic all kinds of experts were being hired regardless of their expertise or practical skills, but now preference is given to people..
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 was 3.78%. Bulgaria is in a currency board and the Bulgarian lev is pegged to the euro. Therefore,..
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