Ex-Economy Minister: Bulgaria Unlikely to Enter Eurozone in Early 2025
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 CEO of Raiffeisen Bank for Bulgaria, Oliver Roegl, believes that the country’s weak judicial system and default loans of banks are the key problems facing foreign and local investors.
“When I arrived to Bulgaria, I expected that the judicial system would work efficiently, as part of the EU. However, there are still much efforts required in order to streamline it with the standards in the continent”, said Roegl, cited by the Bulgarian Telegraph Agency.
Another problem he refers to is the high rate of default loans issued, at 17%. Roegl believes the country’s financial institutions have the capacity to tackle that problem, without affecting their recipients.
Raiffeisen Bank predicts a 0.5% growth of the Bulgarian economy for this year, and 2% for next year.
“The macroeconomic situation in Europe still has its negative effect on Bulgarian business and consumption. The Eurozone just went out of recession, and this could have a positive effect on Bulgaria as well”, added Roegl.
In his view, the banking sector and the real estate market in the country are fairly stable.
Oliver Roegl took over Raiffeisen Bulgaria in August. Previously he headed the bank's branch in Serbia.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In an unexpected turn, Bulgaria and Turkey have been notably absent from the list of the ten cheapest European summer destinations for British tourists
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
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
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