As of October 1, the BNB has tightened the criteria for banks when granting mortgage loans. The central bank's decision comes after an analysis that shows significant credit growth in the segment and its acceleration in the second quarter of the year. The measure is preventive.
The ratio between the amount of the loan secured by residential real estate and the value of the collateral at the time of granting should not be higher than 85%, the BNB decided. The ratio between the amount of current payments in connection with servicing the debt and the borrower's monthly income at the time of granting should not be higher than 50%. The maximum term under the loan agreement should not be longer than 30 years. The requirements come into force from the beginning of next month and are valid for banks and foreign branches, the BNB specifies.
All non-household consumers will be compensated for the high cost of electricity by the end of the year, the government has decided. The European Commission has given the green light for the subsidy, the energy minister said. According to..
The Romanian National Company for Road Infrastructure Administration (CNAIR) has announced a tender for a feasibility study for the construction of a new bridge over the Danube River between Giurgiu in Romania and Ruse in Bulgaria, reports..
Japan's Sumitomo Electric Bordnetze plans to cease operations at one of its factories in Bulgaria, located in Mezdra, by 2025. Its second factory in Karnobat will continue to operate at reduced capacity, BTA reported. The decision comes as the company..
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