European Parliament Passes Law to Restrict Cash Payments to €10,000
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
Bulgaria's real GDP growth is forecast to contract by 5,3% in 2009, following estimated growth of 6% in 2008, according to the latest forecast of the Economist Intelligence Unit (EIU).
This will be mainly because of limited access to external finance and the poor economic outlook for the Eurozone. Growth is forecast to rebound weakly, to 0,4%, in 2010.
Inflation will continue to trend down from the high rate in 2008 as domestic demand pressures ease, food inflation drops and world oil prices remain low relative to 2008. Inflation is forecast to average 3,2% in 2009 and 3% in 2010.
Owing to a sharp contraction in domestic demand, EIU analysts forecast that the current-account deficit will diminish from 25% of GDP in 2008 to about 12% of GDP in 2009 and just below 10% in 2010.
The Economist's analytical unit comments that decision of the center-right Citizens for European Development of Bulgaria (CEDB) to govern alone despite lacking a majority presents some risk to political stability.
They expect the EU to keep Bulgaria under close scrutiny, continuing to demand judicial reforms, as well as concrete results against corruption and organized crime.
Given its large external debt and current-account deficit, Bulgaria is expected to require some financial assistance from the IMF and the EU.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July
Amidst financial fluctuations and strategic fiscal decisions, Bulgaria's Minister of Finance, Lyudmila Petkova, unveils the nation's robust fiscal reserve, standing tall at BGN 10.9 billion as of April 18th
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022