Piraeus Bank with New EUR 40 M Credit Line for Bulgarian SMEs
Greek-owned Piraeus Bank has announced a new credit line for supporting small and medium-sized enterprises in Bulgaria.
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Business » Finance
Bulgaria Finance Minister 'Concerned' over Greek-owned Banks
Bulgaria's Finance Minister Simeon Djankov has expressed a concern over the possibility of Greek-owned banks channeling funds to their parent companies.
Bulgaria Closer to ERM II after IMF Mission
Bulgaria Finance Minister, Simeon Djankov, has stated that the fact that Bulgaria's own forecasts coincide with those that the IMF announced Monday is a "great success".
IMF Projects Bulgaria's Budget Deficit at 1,8% in 2010
The International Monetary Fund expects Bulgaria’s budget deficit to stand at 1,8% of gross domestic product this year, which totals nearly BGN 1,2 B.
Bulgaria Central Bank Interest Rate Hits New Low
The Bulgarian National Bank (BNB) has announced the lowest basic interest rate since the index was recorded for the first time in 1991.
IMF Wraps Up Check on Bulgaria's Readiness for ERM II
Officials from the International Monetary Fund (IMF), who arrived in Bulgaria February 18 to examine the country's readiness to join ERM II, a currency stability test for euro hopefuls, will announce their results on Monday.
Bulgaria to Set up Unified Financial Supervision Body in 6 Months
Setting up a unified body for financial supervision in Bulgaria is going to take about 6 months, according the Chair of Parliamentary Finance Committee, Menda Stoyanova.
Finance Minister: Bulgaria to Overcome Economic Crisis in 9 Months
Bulgaria is going to overcome the effects of the economic crisis in three stages over the next few months, according to Finance Minister Simeon Djankov.
Bulgaria Investors Overwhelm Government Securities Auction
Bulgaria’s second government securities auction within one week was oversubscribed by almost three times, as high interest rates attracted potential investors.
EU Pushes Greece for Another EUR 4 B Package
The European Union is pushing Greece to urgently adopt new measures amounting to an extra EUR 4 B if it is to achieve its goal of slashing its staggering budget deficit by four percentage points this year, the Wall Street Journal reported.
Bulgaria Swiss Accounts Probe Set to Begin after March 5
Bulgaria National Revenue Agency (NAP) Executive Director, Krasimir Stefanov, has stated that a meeting will be held on March 5 with German authorities over Bulgarians' accounts in Switzerland and Liechtenstein.
Bulgaria Finance Minister Vows to Pay Delayed VAT by April
Bulgaria’s Finance Minister, Simeon Djankov, has confirmed that the government will return all of the overdue V.A.T rebate payments to private companies by the start of April.
Greece Faces Further Downgrade in Rating
Greece's debt rating may be cut within a month as it struggles to pare the European Union's largest budget deficit, driving up borrowing costs and renewing pressure on the euro, Bloomberg agency reported.
Eurozone Economic Sentiment Falls in Feb
The European Commission on Thursday said its economic sentiment indicator for the 16-nation euro zone fell to 95.
Govt Accounts for Quarter of Bulgaria's IT Contracts
The Bulgarian state administration signed over 270 contracts for hardware, software and information technology (IT) services during 2009.
Fitch Downgrades Bulgarian Banks UBB, Eurobank EFG
Fitch has lowered the long-term and short-term issuer default ratings of United Bulgarian Bank (UBB) and Eurobank EFG Bulgaria to 'BBB-' from 'BBB'; and to F2 from F3, respectively.
Bulgaria Finance Ministry Prepares New Securities Auction
A new auction of government securities (GS) will be held on Friday, February 26, according to Finance Minister Simeon Djankov.
German Deficit Exceeds Eurozone Ceiling
Germany recorded a budget deficit of 3,3% of gross domestic product last year, one point more than the most recent forecasts, show figures released by the Federal Statistical Office on Wednesday, as cited by the Financial Times.
Bulgaria Gross External Debt Grows in December
Bulgaria's gross external debt increased to EUR 37,6 B ( 111,1% of GDP ) in December from EUR 37,12 B in the previous month, official data shows. A year earlier, the gross debt was EUR 36,97 B.
Hanke: Bulgaria Managed to Keep Fiscal House in Order
Even though the Baltic States and Bulgaria have taken huge hits during the current financial crisis, they have maintained their currency board-like systems and have kept their fiscal houses in order, according to Professor Steve Hanke.
Fitch Downgrades Greece's Four Largest Banks
Greece's four largest lenders, including National Bank of Greece SA and EFG Eurobank Ergasias SA, had their credit ratings lowered at Fitch Ratings, which said the country's economic crisis will hurt asset quality.
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