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 preserve liquidity buffers in the banking system amidst significant credit growth, particularly in mortgages, BNB said.
The annual growth rate of mortgage loans has increased from 10.1% at the end of 2020 to 19.9% at the end of 2023, reaching a total of EUR 3 billion. Banks have not loosened the regime for granting such loans and should not do so, the central bank's report said. The total amount of deposits at the end of 2023 is EUR 73.5 billion, with the deposit growth for the last four years being more than EUR 25 billion.
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Bulgaria is making good progress toward joining the Eurozone, as inflation is decreasing towards the threshold set by the criteria, European Bank for Reconstruction and Development President Odile Renaud-Basso said in an interview with BTA. The..
Bulgaria's Ministry of Transport has been working for years to develop Corridor No. 8, connecting the Adriatic with the Black Sea through Albania, North Macedonia and Bulgaria. Of the 1,220 km of railway line along the corridor, 747 km are on the..
Bulgaria is making good progress toward joining the Eurozone, as inflation is decreasing towards the threshold set by the criteria, European Bank for..
Cooperation between Bulgaria and China in the field of agriculture and food is very active and is constantly expanding. This was stated at a meeting in..
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