Hanke Praises China’s Recent Move, Foresees Troubles for Greece
Economics Professor Steve Hanke praised China’s recent move to lower its reserve requirements and predicted further troubles for Greek banks unless recapitalised.
European Central Bank President Jean- Claude Trichet said emerging nations have weathered the global recession better than advanced countries.
Federal Reserve Chairman Ben S. Bernanke also said in prepared remarks to a Bank of Korea conference in Seoul that “as emerging market economies become increasingly important in the global trading and financial systems, the world economy will depend even more on them to maintain strong domestic growth and economic and financial stability.”
“Emerging countries have also been severely affected, but as a group remained a source of strength for the world economy,” Trichet said via video link to the Bank of Korea conference, according to the text of his speech published by the Frankfurt-based ECB.
“It is therefore not surprising that the crisis has led to even better recognition of their increased economic importance and need for full integration into global governance.”
Trichet also said that “the international community has identified the G-20 as the premier forum for international economic cooperation.”
Federal Reserve Chairman Ben Bernanke also said the world economy depends ever more on emerging markets to maintain strong domestic growth and economic and financial stability.
"Improvements in emerging market policies and policy frameworks ... have ramifications beyond the emerging market economies themselves," he said in videotaped remarks prepared for delivery to a conference sponsored by the Bank of Korea.
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The international rating agency Standard & Poor's has reaffirmed Bulgaria's long-term and short-term credit rating at 'BBB/A-2' in both foreign and local currency
Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933
Bulgaria’s prospects for joining the euro in 2025 have been bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021
In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU