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
Owing to reforms, capital and liquidity buffers the Bulgarian banking system has stabilized in the wake of the closure of Corporate Commercial Bank in 2014. This is the finding of the International Monetary Fund following its evaluation of the stability of Bulgaria’s financial system, BNR reported.
IMF recommends further strengthening of banking supervision.
Another key IMF recommendation to Bulgaria is cutting non-serviced bank loans. After the completion of stress tests and a review of bank assets last summer, the Bulgarian National Bank issued recommendations to two banks where problems had been found – First Investment Bank and Investbank.
In latest BNB figures non-serviced and rescheduled business loans account for less than 17% of all approved loans. The total amount of bad loans in business crediting was 10% down for a year. It comes to the tune of EUR 2.65.
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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
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
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022