Bulgaria to Meet Eurozone's Final Price Stability Requirement This Month
Bulgaria is projected to meet the convergence criterion for price stability in January 2025, with expectations to continue achieving this for the rest of the year
Bulgaria's Central bank (BNB) revoked the banking license of troubled Corporate Commercial Bank (KTB), said BNB in a press statement, dated November 6.
The BNB managing board established a negative capital of KTB to the amount of BGN – 3.74 B and that the bank does not comply with the legal requirements. Hence, BNB requested that the "corresponding court" starts an insolvency procedure.
In accordance with the Bank Bankruptcy Act, BNB requested that the Bulgarian Deposit Insurance Fund be informed of the procedure and commence preparation for appointment of an assignee in bankruptcy.
Until this happens, the stewards Stanislav Lyutov and Elena Kostadincheva will continue with the fulfillment of their duties.
Earlier on Thursday BNB revoked KTB's license from March 2014 to increase its capital by EUR 35 M and referred the matter to the Prosecutor's Office.
In Krivodol, a municipality in Northwestern Bulgaria, local authorities are taking steps toward the eurozone transition well ahead of the February 20 deadline
Boyko Borissov, leader of GERB, defended the government’s progress on Bulgaria’s path to the eurozone
Bulgaria could adopt the euro as its official currency from January 1, 2026, if it successfully meets the necessary criteria for joining the eurozone
The municipal councils in Kozloduy and Krivodol have become the first in Bulgaria to implement dual pricing for municipal services, taxes, and fees
Bulgaria’s draft budget for 2024 raises questions about its realism and whether it is a mere strategy to appease the European Commission and the European Central Bank
Parvomay Municipality in Bulgaria has become one of the first to prepare for the country’s euro adoption
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability