Bulgarian Households Made Bank Savings Amounting to BGN 126 M in May
In the month of May, Bulgarian households made bank savings amounting to BGN 126 M.
The sum is greater than the deposits made in April, which amounted to only BGN 33 M and it grows after it fell in each of the first four months of the year.
The trend for the growth of household deposits is retained in line with the low interest rates of deposits.
The deposits of households increased by 0.31 % on a monthly and 3.8 % on an annual basis, investor.bg informs.
The growth rate has accelerated compared to April, when the monthly increase amounted to only 0.1 %.
At the end of May, the Bulgarian population held more than BGN 40.5 B in accounts in commercial banks, which amounted to 48.3 % of the foreseen Gross Domestic Product (GDP) for 2015.
The deposits of firms rose by BGN 120 M, but the increase did not compensate the drop of BGN 303 M, which was registered in April.
The savings of non-financial entreprises amounted to more than BGN 15.5 B, marking a decrease of 0.8 % compared to the previous month and an increase of 1.2 % compared to May 2014.
The deposits of financial entreprises, which include pension funds, investment mediators, insurance companies and other non-banking financial institutions, increased for the first time in the year.
Their deposits grew by 5.5 % in May, the increase amounting to BGN 147 M, the total amount of savings standing at more than BGN 2.8 B.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Rounded Prices in Euros to Hit Bulgarians' Pockets after Eurozone Entry
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
Bulgaria's E-commerce Set to Contribute 2.11% of GDP in 2023
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
Cost of Euro Adoption in Bulgaria Estimated at Over Half a Billion Levs
The Ministry of Finance in Bulgaria has revealed that the process to facilitate the exchange of levs with euros in the country will come with a hefty price tag, estimated to be at least BGN 500 million
Experts Assert: Euro Introduction in Bulgaria Won't Lead to Price Hikes
As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal
Bulgaria's Euro Transition: Draft Law Unveiled for Public Discussion
The Ministry of Finance has released a draft law for public discussion concerning the adoption of the euro in Bulgaria. The primary aim of the proposal is to ensure a smooth and transparent transition to the European currency
Bulgaria Retains Lowest Purchasing Power in EU, While Luxembourg Tops the Charts
The latest data released by Eurostat, the official statistical office of the European Union, reveals that Bulgaria continues to grapple with the lowest purchasing power within the EU