Bulgaria Boasts Second Lowest External Debt in EU
Bulgaria has secured the second spot in the European Union for maintaining the lowest external debt relative to GDP, based on Eurostat data from the end of the third quarter of the previous year
Ratings agency Standard & Poor's has retained the sovereign rating of Bulgaria as BB+/B, with a stable perspective, the Finance Ministry has said.
Its value remans at a "junk" level, where the country has been since December 2014 due to the developments with Corporate Commercial Bank (Corpbank or KTB), the assistance provided to First Investment Bank, and the overall fiscal deterioration.
Restrictions to the rating include low GDP per capita and institutional weakness, according to S&P.
However, the agency also notes that the economic recovery gathered pace in 2016, with an improved situation on the labour market and a low budget deficit.
However, gains could be negatively impacted by political instability if the latter hampers recovery or looses the fiscal policy.
An increase in the credit rating is tied to the solution of governance problems which would step up GDP growth, a better fiscal situation, and a reduction in external debt levels.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July
Amidst financial fluctuations and strategic fiscal decisions, Bulgaria's Minister of Finance, Lyudmila Petkova, unveils the nation's robust fiscal reserve, standing tall at BGN 10.9 billion as of April 18th
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
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022