Austria's Minister of the Interior, Gerhard Karner, has announced that Austria will adopt a cautious approach towards Bulgaria's full accession to the Schengen area
Standard & Poor's confirmed Bulgaria's credit rating
The international rating agency "Standard & Poor's" confirmed the long-term and short-term credit rating of Bulgaria in foreign and local currency - three times B and A minus two. The outlook remains stable.
Standard & Poor's expects Bulgaria's gross domestic product growth to weaken significantly in the coming months, although the economy has remained more resilient than expected after the Russia-Ukraine conflict.
Projected real growth in 2023 will be less than one percent, which is a significant slowdown.
According to Standard & Poor's, Bulgaria is gradually making progress in its efforts to join the Eurozone, but it remains unclear whether it will receive membership from January 1, 2024 due to high inflation and domestic political uncertainty.
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