The Bulgarian National Bank raised the base interest rate by 0.35% to 2.17%. The new base interest rate is effective as of March 1. In February the base rate was at 1.82%. The interest rate increase comes against the backdrop of increasing interest levels by the European Central Bank which raised the base rate by 0.5% in February.
The base interest rate is in effect from the first day of each calendar month and equals the simple average of the values of the index LEONIA Plus for the business days of the preceding calendar month. The LEONIA Plus reference rate is a weighted average of the interest rates on all concluded unsecured overnight lending transactions in Bulgarian levs in the interbank market in Bulgaria.
Without compensation for the price of electricity, companies will be uncompetitive, said Vasil Velev of the Bulgarian Industrial Capital Association (BICA) at a press conference held jointly with trade unions. Those who cannot pass on the increase in..
Bulgarian exports are expected to grow by 5.8% annually after Bulgaria joins the eurozone. Trade in goods could increase by 3.3%, and in the services sector, growth might reach 8.4%. This is predicted by an analysis by the trade credit insurance..
In 11 district cities in Bulgaria, 1 square meter of residential space costs under EUR 1,000. In 13 district cities, the price ranges from EUR 1,000 to EUR 1,400. In Sofia and Varna, 1 square meter of residential space costs EUR 2,400, National Real..
Without compensation for the price of electricity, companies will be uncompetitive, said Vasil Velev of the Bulgarian Industrial Capital Association..
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