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.
There has been an upsurge in the economy in every region of Bulgaria, the effects of the Covid crisis have been overcome, tourism has fully recovered, which is evident in Bulgarian seaside regions and spa resorts - this is the conclusion that is drawn..
More than EUR 1 billion will be invested in agriculture and rural areas in Bulgaria in 2025. According to a decision by the Monitoring Committee of the Strategic Plan for Agricultural Development, the funds are aimed at modernizing agriculture and..
Bulgaria’s industry is being transformed in the direction of high added value productions, reads an analysis by the Institute for Market Economics. This tendency is best manifested in computer science, electronics and optics which account for the..
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