Young Bulgarians To The Acting PM: "Just Don't Send Us To Ukraine!"
Acting Prime Minister Dimitar Glavchev has affirmed in an interview with "24 Chasa" that Bulgarian military personnel will not be dispatched to Ukraine in any capacity
Standard and Poor's Ratings Services cut Bulgaria's sovereign credit ratings by one notch to BBB- on Friday.
The main reason, according to the agency, was the country's political environment, which poses risks to much-needed reforms.
S&P said the revision reflects the view that the absence of meaningful progress on reforms will constrain economic growth and keep unemployment high.
"Bulgaria's political environment continues to pose a challenge for the implementation of reforms needed to tackle deep-rooted institutional and economic problems," Standard and Poor's said in a statement. "We expect that the political landscape will remain volatile over the coming months and will likely not be conducive to implementing potentially unpopular reforms," it said.
The credit ratings agency has however revised the country's outlook to stable from negative, citing the low public debt levels of Bulgaria.
The downgrade will probably affect the cost at which Bulgaria can price its pending Eurobonds of up to EUR 1.5 B, needed to fund its budget deficit and roll over maturing global bonds next January.
Bulgaria is rated at investment grade BAA2 by Moody's and BBB- by Fitch. The two hold stable outlook.
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In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
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