Given the scale of the headwinds facing the economy, Capital Economics has said they are sticking to its below-consensus forecast for the Bulgarian economy to contract by 1% this year and grow by 1.5 in 2011.
EU finance ministers have agreed on emergency measures worth EUR 500 B to prevent the Greek debt crisis from affecting other countries.
Even though the bar for accession to the Eurozone will probably be raised, Bulgaria has fair chances to join, Bulgarian EU Commissioner Georgieva believes.
Bulgaria's Finance Minister Simeon Djankov declared his readiness to ride a bicycle to work as part of the government's newly adopted austerity measures.
The President of the EBRD, Thomas Mirow, has said that he is aware of the potential risk to Bulgaria from the Greek debt crisis.
Bulgaria PM Boyko Borisov has confirmed that his center-right GERB government will not increase Value Added Tax (VAT) from the current 20%.
Bulgaria's government is expected to decide on Wednesday whether to temporarily raise Bulgaria's 20% flat-rate value added tax (VAT) by up to 4% in a bid to plug a budget gap that has thwarted the new EU member's efforts to join the euro in the near futur
The International Monetary Fund (IMF) had proposed an increase of VAT and the flat tax to Bulgaria's northern neighbor, Romania.
Fitch Ratings and Moody's Investors Service Inc. Tuesday tried to dispel market rumors of an upcoming downgrade for Spain saying they both maintain their AAA ratings and stable outlooks for the country's sovereign debt.
Bulgaria will suspend its contract with Crown Agents, the British company consulting the country's Customs Agency, after it expires at the end of May, the finance ministry officially announced.
The Board of Directors of the International Monetary Fund has approved the annual monitoring report for Bulgaria.
Bulgaria, which runs one of Europe's tightest fiscal polices, has ended April 2010 with a preliminary budget surplus of BGN 213 M, the finance ministry said on Tuesday.
Rating agency Moody's Investors Service has downgraded the bank financial strength rating (BFSR) of Piraeus Bank Bulgaria to E+ from D-.
Bulgaria's Finance Minister, Simeon Djankov, offered Monday firm guarantees that taxes will not be raised by the end of the year.
Hungary's OTP Bank, which acquired in 2003 Bulgaria's second largest bank, state-owned DSK, said recovery in Bulgaria will be slower and top priority will be assigned to improvement of the services quality.
Bulgaria's gross domestic product (GDP) will shrink by 3% on an annual basis during the first three months of the year, analysts from a local think-tank have forecast.
Bulgaria's budget deficit increased to BGN 1.67 B in the first three months of 2010 due to a fall in revenues and a rise in spending for social payments, the finance ministry said on Monday.
The cabinet is going to apply all possible effort to avoid the increase of the Value Added Tax (VAT), Bulgaria's Prime Minister, Boyko Borisov, declared over the weekend.
Bulgaria and Macedonia have to focus on intensifying exchange of expertise and information with respect to finances and economic growth measures, Finance Minister Djankov said in Ohrid.
The financial problems in Greece will not interfere with Bulgaria's accession to the Eurozone, according to "the father of the euro", Professor Robert Mundell.
Bulgaria's Customs Agency has managed to raise 25% more revenues from value-added tax on import in April 2010 year-on-year.
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
