Fitch Ratings has affirmed Bulgaria's long-term foreign-currency Issuer Default Rating (IDR) at 'BBB' with a positive outlook.
Bulgaria intends to request a reassessment of its progress on convergence criteria in 2H24, which should allow for eurozone entry later in 2025. In Fitch's view, Bulgaria could comply with the price stability criterion in 4Q24 at the earliest, conditional on inflation developments across the EU.
Bulgaria is on course to meet all other euro-adoption nominal criteria (public finances, interest rate and exchange rate). Nonetheless, a lack of stable government and potentially lengthy coalition negotiations could delay the eurozone entry beyond 2025. Overall, we consider euro adoption as supportive to the rating, Fitch writes.
The Agency expects average HICP to be 3.3% in 2024 and 2.9% in 2025, down from 8.6% in 2023. Fitch expects real GDP growth to accelerate to 2.4% in 2024 and further to 3.1% in 2025.
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..
On the last day of last year, the Egyptian Minister of Investment and Foreign Trade Hassan al-Khatib awarded a total of nine gold licenses at a ceremony at the General Agency for Investment and Free Zones, which was also attended by the Bulgarian..
Based on preliminary data, the Finance Ministry expects a deficit of around BGN 6.1 billion ( €3.11 billion), or 3% of the projected gross domestic product (GDP), at the end of 2024. "Estimates suggest that the deficit will show an improvement..
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