The Bulgarian National Bank has lowered the base interest rate for the second consecutive month. As of August 1, it stands at 3.53%, down from 3.63% in July. Since the end of 2023, the base interest rate has been gradually falling. From February 2016 to September 2022, the base interest rate was 0.00%. On October 1, 2022, the rate went up to 0.49%.
As of June 30, the net profit of the banking system for 2024 was EUR 0.9 billion, representing a 7.1% increase compared to the first six months of 2023, according to BNB statistics. Over a quarter of the income comes from fees and commissions. Banks earned EUR 1.6 billion from interest on loans in the first half of the year and paid out EUR 290 million in interest on deposits. Bank assets increased by over EUR 1 billion or 1.2% in the first half of 2024. Losses have risen by EUR 46 million to EUR 139 million, representing a 50.1% increase compared to the first six months of 2023.
Bulgarians working abroad sent over EUR 420 million to their relatives during the first quarter of 2025. This amount is EUR 66 million higher than in the same period of 2025. The largest sum was sent by the Bulgarian diaspora in the United States,..
The positive convergence report will have a positive impact on people's standard of living and purchasing power, as well as on the country’s business environment, Bulgaria’s Minister of Economy Petar Dilov said in an interview with public service..
According to the Institute for Market Economics , today marks the so-called Tax Freedom Day , reported BNR’s correspondent Natalia Ganchovska. This is the day on which taxpayers stop working to pay their taxes and start working for..
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