Serbia Narrows the Gap: Pension Increases Bring Incomes Closer to Bulgaria
From December 1, pensions in Serbia rose by 12.2%, bringing the average pension for retirees to 485 euros
@novinite.com
For the first time, the money circulation in Bulgaria has surpassed 30 billion leva. According to the Bulgarian National Bank's (BNB) publication "Overview of the Issue and Cash Activity," as reported by BTA, the total value of banknotes and coins in circulation reached BGN 30 billion and 356 million as of the end of September.
The number of banknotes in circulation stands at 604.9 million, with a total value of 29 billion and 695 million leva. The 50 leva banknote is the most prevalent, accounting for 41.5% of the total share, or 251.1 million pieces. Additionally, there are 3.315 billion coins in circulation, with the number of exchange coins increasing by 140.1 million, or 4.4%, compared to last year.
In terms of quantity, the most common coin is the 1-cent piece, making up 27.7% of the total with 919.7 million pieces. The most frequently used coin by value is the 1 leva coin, representing 32% of the total monetary value, totaling 197.2 million leva.
The current amount of circulating money is nearly four times greater than it was in September 2007, when it was recorded at 7.568 billion leva. The BNB’s regular monthly balance sheet indicates that the threshold of 30 billion leva in banknotes and coins was already reached in August this year.
Overall, the money supply in the economy has increased by 6.8% or 1.928 billion leva compared to September of the previous year.
Financial expert Max Baklayan has warned that the main risk in Bulgaria’s transition to the euro is not the exchange rate, but the increased likelihood of counterfeit currency
The Governing Council of the Bulgarian National Bank (BNB) has granted preliminary approval to Bulgarian-American Credit Bank AD (BACB) to acquire a controlling stake in Tokuda Bank EAD
Economist Dimitar Chobanov has warned that the current policies are pushing Bulgaria’s budget toward a structural deficit that is already becoming apparent
Bulgaria’s banking system will undergo a brief technical shutdown on New Year’s Eve
The demand for euro coin sets proved overwhelming, as post offices across Bulgaria reported that their stocks had rapidly depleted.
From December 1st, Bulgarians can purchase starter packages with the national side of the euro coins at banks and “Bulgarian Posts”
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