Greek Money 'Boosts Bulgarian, Romanian Banks'

World » SOUTHEAST EUROPE | October 27, 2016, Thursday // 07:33
Bulgaria: Greek Money 'Boosts Bulgarian, Romanian Banks' File photo, BGNES

Capital flight from Greek banks last year has boosted deposits in Bulgaria and Romania, English-language Kathimerini says.

Deposits in Bulgaria rose 10% last year, while in its neighbor Romania the value was 8%.

Greece, on the other hand, saw a 23% slump over the same period.

"Quite a few self-employed professionals and others transferred their savings to banks in the neighboring states too," the daily adds.

Recently, the head of a social insurance fund for the self-employed sparked controversy with his comments that whoever is unable to pay their contributions and bear taxation in the country should move to Bulgaria.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Southeast Europe » Be a reporter: Write and send your article
Tags: greece, Bulgaria, Romania, capital flight, banks
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria