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.
In the space of 15 years, from 2005 until 2020, 75% of the farms in the country have disappeared – from 500,000 in 2005 down to 132,000 in 2020, said Prof. Dr. Bozhidar Ivanov, Director of the Institute of Agrarian Economics at an international..
In October 2024, the total business climate indicator decreased by 5.6 percentage points compared to September, dropping from 22.5% to 16.9%. The index declined in all monitored sectors, the National Statistical Institute announced. In industry, the..
Petar Ganev , senior researcher at the Institute for Market Economics announced, for the BNR, the publication of their white paper of the Bulgarian economy – Unlocking growth: the road ahead after the election. “Concord should be sought and..
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