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.
Inflation for 2024 is 2.2% compared to the previous year, the National Statistical Institute reports. In December, this indicator was 0.4%. Annual average inflation for the period January 2024 - December 2024 compared to the period January 2023 -..
Without compensation for the price of electricity, companies will be uncompetitive, said Vasil Velev of the Bulgarian Industrial Capital Association (BICA) at a press conference held jointly with trade unions. Those who cannot pass on the increase in..
Bulgarian exports are expected to grow by 5.8% annually after Bulgaria joins the eurozone. Trade in goods could increase by 3.3%, and in the services sector, growth might reach 8.4%. This is predicted by an analysis by the trade credit insurance..
The financial situation in the country is critical, Finance Minister Temenuzhka Petkova says. Which means that the good news – the slowing inflation..
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