Bulgaria's Tourism Struggles to Diversify Beyond Traditional Offerings
Bulgaria continues to lag behind neighboring countries in achieving significant growth in its tourism sector
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.
Bulgarians may begin exchanging their lev for euros if the upcoming convergence report
In July, Bulgaria’s eurozone entry plans will be definitively clarified
Bulgaria has successfully met the price stability criterion required for entry into the eurozone
Bulgaria is in a very strong initial position to join the eurozone
Finance Minister Temenuzhka Petkova has stated that Bulgaria is ready to join the eurozone
The international rating agency Fitch has reaffirmed Bulgaria’s long-term credit rating at 'BBB' with a positive outlook
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase