GERB-SDS and WCC-DB reached an understanding on the general framework of the draft budget for 2023 at a meeting between Asen Vassilev and Kiril Petkov (WCC-DB) and Boyko Borissov (GERB-SDS) today in the room of GERB-SDS in the National Assembly
Is it possible to introduce the euro in parallel to the lev? According to Bulgarian businesses, the best option is the fastest adoption of the European currency, rather than its prolonged parallel use
It is calculated based on average annual inflation of 8.7% and economic growth of 1.8%
The Ministry of Finance is preparing a draft budget in which the indicators fully meet the Maastricht criteria, that is, for entry into the Eurozone. For now, Bulgaria plans to do this in 2025
For the first time in the last two years, the National Statistical Institute reported deflation
In the first quarter of 2023, the gross domestic product (GDP) grew by 2.3% compared to the first quarter of 2022 and by 0.5% compared to the fourth quarter of 2022 according to seasonally adjusted data
Asen Vassilev, the nominee for Minister of Finance in the Denkov-Gabriel cabinet, said that if the government is voted in today, work on Budget 2023 will begin tomorrow
An NSI survey shows that more than 75% of respondents had difficulty covering their daily expenses in the first three months of the year
The International Monetary Fund has yet to record enough banks cutting back on lending, and that could prompt the US Federal Reserve to reverse course with the rate hike cycle
Serious breaches, unfair trading practices and non-compliance with the Consumer Credit Act which distort the market
The Budget Committee of the Parliament adopted a decision to extend the current Law on the State Budget
This was stated by Iliya Lingorski from the BNB Board of Directors during a forum dedicated to the advantages for business and the economy of the adoption of the euro
If after June 10 there is no adopted budget for the year or a new extension of last year's budget, the state will only be able to spend as much as it collects
The Bulgarian National Bank (BNB) has no formal basis and has not suspended the technical work on the adoption of the euro
Annual inflation in Bulgaria for April 2023 compared to April 2022 is 11.6%
The international rating agency "Fitch" (Fitch Ratings) confirmed the long-term credit rating of Bulgaria in foreign and local currency BBB with a positive outlook
At the beginning of the year, the fiscal reserve was BGN 11.9 billion, of which BGN 10.8 billion was in BNB (Bulgarian National Bank) accounts
The law on the adoption of the euro will be submitted to the National Assembly within a month, announced Deputy Minister of Finance Metodi Metodiev
Bulgaria is making efforts to be ready to accept the euro no later than January 1, 2025
At the end of March 2023, the deposits of the non-governmental sector in Bulgaria were close to BGN 119 billion (67.3 percent of GDP), and their annual increase was 13.1 percent
The Bulgarian National Bank (BNB) has taken measures to restrict lending and control the growth of inflation
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