Daniel Mitov Ready for Foreign Minister Role Amid Geopolitical Test in Bulgaria
Daniel Mitov, Deputy Chairman of GERB, has expressed his readiness to assume the position of Acting Foreign Minister
Bulgaria’s ruling party GERB and opposition party the Bulgarian Socialist Party (BSP) have locked horns over a proposal for new borrowing of EUR 8 B by 2017.
Under a bill introduced in Parliament and published on the website of the National Assembly, Bulgaria has chosen four banks to manage its EUR 8 B bond program over the next three years - Citigroup Global Markets Ltd., HSBC Plc., Societe Generale, Unicredit Bank AG.
The bill drafted by the government envisages the ratification of a Dealer Agreement between Bulgaria and the four banks on the global medium-term note (GMTN) program worth EUR 8 B.
The maximum maturity of the bonds is up to 30 years and the maximum interest rate is up to 10%.
Moody's Investors Service has assigned a provisional Baa2 rating with a stable outlook to Bulgaria’s global medium-term (2015-2017) bond program.
BSP claimed Wednesday that the plan of the ruling party was scandalous as the documents envisaging colossal sums of money had been pushed through under a fast-track procedure. BSP representatives, as cited by mediapool.bg, argued that the new borrowing was to provide the ruling party with “financial luxury” and “peace.”
GERB (Citizens for European Development of Bulgaria) MPs, on the other hand, underscored that the new debt was sought for a 3-year period and a large part of it would be used to cover existing debt maturing in that period, while the remainder would go to financing the fiscal deficit.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
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)
Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023
As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022