Bulgarian Sewing Businesses Face Closure Amid Surge of Low-Cost Chinese Clothing
Domestic sewing companies in Bulgaria are struggling to survive as the influx of low-cost Chinese garments floods the market
By the end of July 2024, Bulgarian banks reported a profit of 2.1 billion leva (around 1 billion euros), marking an increase of 115 million leva compared to the same period in 2023. This represents a 5.7% rise from the first seven months of the previous year, according to data from the Bulgarian National Bank (BNB).
However, the accrued expenses for the impairment of financial assets, which are not included in profit or loss calculations, rose by 94 million leva, or 41.6%, reaching 321 million leva by the end of July 2024.
As of August 1, 2024, the total assets of the banking sector stood at 179.1 billion leva, an increase of 671 million leva, or 0.4%, from the end of June. Net loans and advances saw a rise of 2.8 billion leva, or 2.5%, on a monthly basis.
The liquid coverage ratio was reported at 249.7% as of August 1, 2024. Additionally, loans from banks increased by 1.7 billion leva, bringing the total to 11.7 billion leva.
Boyko Borissov, leader of GERB, defended the government’s progress on Bulgaria’s path to the eurozone
Bulgaria could adopt the euro as its official currency from January 1, 2026, if it successfully meets the necessary criteria for joining the eurozone
The municipal councils in Kozloduy and Krivodol have become the first in Bulgaria to implement dual pricing for municipal services, taxes, and fees
Bulgaria’s draft budget for 2024 raises questions about its realism and whether it is a mere strategy to appease the European Commission and the European Central Bank
Parvomay Municipality in Bulgaria has become one of the first to prepare for the country’s euro adoption
Professor Steve Hanke, who established Bulgaria’s currency board, emphasized that the country should maintain the current system, as it continues to work effectively
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability