Fitch Ratings has affirmed Bulgaria's long-term foreign-currency issuer default rating (IDR) at 'BBB' with a positive outlook.
Bulgaria's ratings are supported by its strong external and public balance sheets versus 'BBB' peers and a credible policy framework, underpinned by EU membership and a long-standing currency board. In Fitch's view, Bulgaria should meet legal requirements for eurozone accession but the biggest obstacle remains the price stability criterion. HICP inflation in Bulgaria has been running above the rate of the three best performing EU member states since the beginning of the year and is expected to remain elevated throughout 1Q23. “We expect this year's GDP growth to be 3.5% (previous review: 3.0%) due to better-than-expected performance in 1H22 (…) We expect HICP inflation to remain in double digits throughout 1Q23 and to decelerate toward 5.5% yoy by end-2023,” the Fitch rating action commentary reads.
In the next 3 to 5 years, Bulgaria will experience a shortage of more than 250,000 specialists with higher education. For the past 8 years, Bulgaria has missed the opportunity, which a number of EU countries have taken advantage of, to conclude an..
The Governing Council of the Bulgarian National Bank (BNB) has ordered banks in the country to apply a minimum set of 6 indicators for monitoring credit standards when granting and renegotiating loans secured by residential real estate . The aim is to..
Regional policies are needed to address imbalances in employment and economic activity levels in different regions of Bulgaria, taking into account the specificities of each region. This is the recommendation of the Council for Economic Analysis study..
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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