Greece's Economy Contracts by 6.9% in a Year
Greece's GDP shrank by 6.9% in the second quarter of 2011 from the same period a year earlier, according to the Greek statistics service.
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Greece's GDP shrank by 6.9% in the second quarter of 2011 from the same period a year earlier, according to the Greek statistics service.
US investment guru George Soros has put the blame for the deepening European debt crisis squarely on Germany's chancellor shoulders, harshly criticizing her "slow" approach.
The Bulgarian economy's growth slowed down to 1.9% in the second quarter of the year on an annual basis due to a decline in exports, data of the statistics office showed on Friday.
The European Commission has spoken out disparagingly Thrusday on incipient rumors that France might well be the next country with a credit rating downgrade.
Bulgaria's Privatization Agency is set to file a claim against the National Bank of Greece for at least EUR 3 M at the Court of Arbitration in Paris, for failing to pay a bank guarantee.
The United Bulgarian Bank (UBB), which is fully owned by the National Bank of Greece (NBG), has announced a net profit of BGN 63.88 M in 2010.
Bulgaria's population managed to put aside regular savings over the last year, leading to a sharp increase in the money stashed in bank deposits, official data shows.
Asian stock markets saw declines on Thursday following drops in the USA and Europe Wednesday, with fears that bigger developed economies are increasingly affected by the financial crisis.
VAT fraud costs Bulgaria about BGN 750 M per year, according to a study of the National Revenue Agency.
Bulgaria has sound fiscal policies and the government will even be mulling upping further the minimum wage in the spring, after the planned increase this fall, Finance Minister Simeon Djankov has reassured.
Asian stock markets have rebounded Wednesday after the US Federal Reserve said Tuesday it will keep interest rates on hold.
Bulgarians should not be worried because they will not suffer from the effects of international stock market turmoil, according to Finance Minister Simeon Djankov.
The US Federal Reserve declared Tuesday that it will keep interest rates low for at least two years, bringing disappointment to the markets amidst expectations for more tangible action on its part.
US stocks made a come back on Tuesday ahead of the keenly expected Federal Reserve's latest statement on monetary policy.
Bulgaria's Finance Ministry is heading a Consulting Council for Financial Stability which constantly monitors the recovery of the economy and global markets.
The Bulgarian cabinet is establishing emergency headquarters to monitor financial markets in the US and Europe for threats of another economic crisis wave.
The downgrading of the US credit rating by S&P is a sign the current times are not times for populism, according to Bulgaria's Prime Minister, Boyko Borisov.
Standard & Poor's downgraded the debt rating of the USA from AAA to AA+, which is the first downgrading of the States for the agency's 70 years of existence.
The Bulgarian bourse indices fell sharply on Friday as the stock markets in Asia and Europe recorded sharp declines, while Wall Street had its worst day since the 2008 financial crisis.
The Bulgarian cabinet is setting aside BGN 35 M for the October 23 local and presidential elections.
Driven by strong exports, as well as the good performance of the industry and services sectors, the Bulgarian economy has started to expand, but too weakly and unsteadily, a local think-tank has said.
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022