Moody's confirmed the Credit Rating of Bulgaria and Predicts Postponement of the Euro
Moody's confirmed Bulgaria's long-term rating in foreign and local currency Baa1 with a stable outlook, reports the Ministry of Finance
The Bulgarian banking system is stable, liquid and profitable, and banks have enough provisions against defaulting loans.
This statement was made by Violina Marinova, the chairperson of the managing board of the Association of Banks in Bulgaria and CEO of DSK Bank, in an interview for the Bulgarian Information Agency (BTA).
Marinova commented on the announcement made by the rating agency Moody's that there was a possibility for downgrade in the ratings of the Bulgarian banks, DSK and First Investment Bank.
"At the moment the Bulgarian banks in general and DSK Bank in particular are stable and we have nothing to worry about," Marinova told BTA.
In her words, Moody's review of the two banks' ratings will last three months and a rating action is not expected before that.
Defaulting loans make up 8,2% for the whole banking system, which is a reasonable level, Marinova commented.
She added that there was no data to show that Bulgaria is in recession.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022