Bulgarian President Radev Engages in High-Level Talks with IMF's Georgieva
President Rumen Radev engaged in a substantial dialogue with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva
The European Bank for Reconstruction and Development (EBRD) has downsized its 2015 GDP growth forecast for Bulgaria to 0.8% from a rate of 2% in September 2014.
If the forecast of the EBRD is fulfilled, 2015 will be a year of substantial slowdown in economic growth, following GDP growth rates of 1.1% in 2013 and 1.5% in 2014, according to the EBRD’s latest economic outlook, published on January 19, as cited by the Bulgarian National Radio.
EBRD economists expect Russian GDP to shrink by 4.8%in 2015, a major downward revision from September’s forecast of a contraction of 0.2%.
According to the report, a sharp oil price decline placed additional burden on Russia, whose economic growth was already slowing down amid uncertainty and weak investor confidence after the imposition of sanctions in 2014.
EBRD experts expect Russia’s problems to also affect Eastern European countries with close links to Russia.
The Ukrainian economy is expected to shrink by 5% in 2015, compared to a 3% contraction predicted in September 2014.
On average, the economies of the 35 countries in which the EBRD operates are expected to see a contraction of 0.3% in 2015, after a forecast of 1.7% growth in September 2014.
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The international rating agency Standard & Poor's has reaffirmed Bulgaria's long-term and short-term credit rating at 'BBB/A-2' in both foreign and local currency
Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933
Bulgaria’s prospects for joining the euro in 2025 have been bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021
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
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