Bulgaria Sees Surge in Mortgage Loans: Record-Breaking Growth Fuels Property Market
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Owing to reforms, capital and liquidity buffers the Bulgarian banking system has stabilized in the wake of the closure of Corporate Commercial Bank in 2014. This is the finding of the International Monetary Fund following its evaluation of the stability of Bulgaria’s financial system, BNR reported.
IMF recommends further strengthening of banking supervision.
Another key IMF recommendation to Bulgaria is cutting non-serviced bank loans. After the completion of stress tests and a review of bank assets last summer, the Bulgarian National Bank issued recommendations to two banks where problems had been found – First Investment Bank and Investbank.
In latest BNB figures non-serviced and rescheduled business loans account for less than 17% of all approved loans. The total amount of bad loans in business crediting was 10% down for a year. It comes to the tune of EUR 2.65.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022