Standard & Poor's Confirmed Bulgaria's Rating with a Stable Outlook

Business » FINANCE | May 28, 2022, Saturday // 13:50
Bulgaria: Standard & Poor's Confirmed Bulgaria's Rating with a Stable Outlook

The international rating agency Standard & Poor's (S&P Global Ratings) has confirmed Bulgaria's foreign and local currency rating 'BBB / A-2'. The outlook for the rating remains stable, the finance ministry said.

The agency expects that the military conflict in Ukraine will shock the Bulgarian economy and real GDP growth this year will slow to 1.6% from 4.3% in the November forecast, and the budget deficit will double to 5%.

S&P notes that the country's strong external and fiscal balances will help mitigate the shock, and a steady influx of EU transfers will support growth in the medium term.

The agency would raise our rating upon joining the Eurozone and lower it if the shock of the war on our economy is greater.

Follow Novinite.com on Twitter and Facebook

Write to us at editors@novinite.com

Информирайте се на Български - Novinite.bg

/BNR

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

Finance » Be a reporter: Write and send your article
Tags: S&P, rating, Bulgaria, stable
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