Send to Kindle
The outlook for the Bulgarian bank system stays negative, confirmed a report by the Moody's rating agency published Wednesday.
The reasons behind that assessment are chiefly related to what Moody's calls "an unconvincing economic recovery and week operative environment."
The report also points out expectations for an increase in bad credits and the high levels of dependency on foreign financing.
The Moody's document outlines the fundamentals of credit conditions for the next 12 to 18 months.
Among the other negative factors contributing are a low credit growth and high level of unemployment.
On the other hand, the latest report from the Bulgarian National Bank states that the country's banking system remains "stable" and that corporate lending is on the rise.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Recent data released by the European Statistics Office Eurostat shows that the unemployment landscape in the European Union (EU) remained stable in February, with the unemployment rate holding steady at 6 %
“Until now, Bulgaria has benefited very little from the Recovery and Resilience Plan (RSP). The last tranche is from December 2022 and is 2.7 billion, in the following two years we have not received any money - to date, this is the first and last tranche
Bulgarian banks have injected approximately 3.7 billion in additional credit resources into the housing market over the past year alone, with a staggering total of over 8 billion in the last three year
Eurostat's latest data unveiled a promising trend in the European Union's tourism sector, indicating a robust recovery from the shadows cast by the COVID-19 pandemic
Unemployment in Bulgaria saw a slight uptick in January, with the registered rate climbing by 0.2% compared to December figures. According to data from the Employment Agency, the unemployment rate now stands at 5.8%
In the wake of Russia's invasion of Ukraine nearly two years ago, the task of rebuilding the country's shattered economy looms large, with experts estimating the cost to be a staggering $486 billion
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
