Biden's Approval Rating Hits Record Low
The public approval rating of US President Joe Biden has reached a new low,
Standard & Poor's has confirmed its long- and short-term foreign and local currency rating on Bulgaria at 'BB +/ B' with stable outlook, the Finance Ministry in Sofia said on Friday.
The rating is supported by low government debt, while the relatively low level of per capita income, weaknesses in governance and worsening demographics are listed at constraints, the ministry said in a press release.
Standard & Poor's expects a gradual improvement of the fiscal position in the medium term.
The global rating agency said it has taken into account Bulgaria’s efforts to strengthen banking supervision and the start of the process to introduce the Directive establishing a framework for the recovery and restructuring of credit institutions and investment intermediaries, which sets the rules for dealing with bank failures, so as to minimize loss to taxpayers.
A risk factor for Bulgaria is the large share of assets in country's banking sector held by Greek banks.
Standard & Poor's also said that it a rating upgrade could take place if the government efficiently addresses the problems of governance, which would help increase the potential for growth and attract more foreign direct investment to export-oriented sectors; or if economic growth rate exceeds forecatss.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
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
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU