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
Bulgarian small and medium-sized enterprises will get EUR 20 M in seven years from the Moscow-based International Investment Bank (IIB).
Bulgaria, which is an IBB shareholder, is one of the initiators of change to the IBB's financial strategy envisaging special-purpose lines of credit for national development banks, according to reports of the Bulgarian National Radio (BNR).
Ventsislav Stefanov, head of the Treasury Operations Department at the IIB, explained Saturday that the step would provide access to Bulgarian producers to an affordable credit resource of EUR 20 M via the Bulgarian Development Bank.
He said that with the active assistance of the Finance Ministry, the Bank would offer and sustain deals related to the development of SMEs on Bulgarian territory and also participate directly in investment projects by entering into the companies' capital.
Stefanov added that the Bank would also cooperate with partner banks in the implementation of its investment plans for supporting the Bulgarian economy.
The International Investment Bank was founded in 1970 by countries of the former Council for Mutual Economic Assistance.
The IIB's current shareholders are Bulgaria, Slovakia, the Czech Republic, Romania, Vietnam, Cuba, Mongolia, and Russia.
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The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
Bulgaria has witnessed a bustling winter tourism season, with a total of 1.8 million tourists gracing its picturesque landscapes from December 1 to March 25
Trade relations between Bulgaria and Ukraine have reached unprecedented heights, with bilateral trade hitting a record 3 billion USD in 2022, according to statements made during the recent Bulgarian-Ukrainian business forum
As of 2022, the count of fellow countrymen who purchased real estate overseas reached 2,154, based on data from the National Revenue Agency referenced by "Telegraph"
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
FlixBus, the renowned European bus company, is set to launch new routes to and from Bulgaria in anticipation of the summer season
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Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022