On 1 November, the Bulgarian National Bank is raising the base rate for the national currency – Lev – to 3.79%. The base rate in October was 3.64%, and in September 3.53%. Interest rates have been going up since the end of September 2022 when the BNB announced a rate increase from zero percent for September to 0.49% as of 1 October, 2022. By the end of 2022, the annual base rate had reached 1.42%.
Over the first 9 months of the year, the banking system in Bulgaria has registered records-high profits of EUR 1.35 billion (2.7 billion Leva), or 80.5% more compared to the same period of 2022, the BNB says. The impressive profits made by banks in 2023 are due mostly to the significant increase in revenue from interest on loans and higher fees and commissions.
Until the end of 2024, businesses will continue to receive compensations for high electricity prices. They will be 100% after a price of over 90 euros per megawatt hour on the stock exchange. The previous threshold was 100 euros. The..
Deposits in banks for the first quarter of 2024 have reached a record level of 75.4 billion euros. From January to March, deposits grew by EUR 1.35 billion or by 1.8%. The rise is mainly due to increased household deposits, the..
Although bilateral trade reached nearly $4 billion last year, there are still untapped opportunities to further increase Bulgarian exports to China. This was made clear at a meeting between the Minister of Economy and Industry, Mr. Petko Nikolov, and..
Deposits in banks for the first quarter of 2024 have reached a record level of 75.4 billion euros. From January to March, deposits..
Until the end of 2024, businesses will continue to receive compensations for high electricity prices. They will be 100% after a price..
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