Bulgaria Expands Rail Fleet with New Trains from Skoda
Bulgaria is set to sign an additional agreement with Skoda for the procurement of five new electric trains
Bulgaria still has a chance to join the Eurozone next year, according to Kristalina Georgieva, managing director of the International Monetary Fund. In her first television interview since the start of her second term, Georgieva told BNT that the country needs to address inflation by the end of the year, which remains the only unmet criterion for adopting the euro.
At the IMF, Georgieva emphasized, there is confidence that Bulgaria's opportunity to enter the Eurozone by 2025 still exists. The key challenge is reducing inflation. She also highlighted the importance of effective communication with European institutions to ensure the successful implementation of the plan to adopt the single European currency.
Georgieva stressed the benefits of Eurozone membership, especially in a world increasingly prone to shocks. Having the additional protection of the Eurozone, she explained, is in the best interest of Bulgarian citizens.
The IMF forecasts slow growth for the global economy and warns that Europe may lag behind technologically. The continent, she said, should prioritize reforms to support rapid digitization and the modernization of its financial systems, which remain conservative. Structural reforms that promote dynamic growth are essential for both developed and developing nations.
Georgieva also addressed criticism she faced at the end of her first term, particularly regarding the IMF’s evaluation of Russia's economy. She clarified that the fund has no active mission in Russia but has a responsibility to assess the economic situation in all member states.
She assured that the IMF has no intention of contributing to the escalation of the conflict. Additionally, she confirmed that the IMF will continue to provide financial support to Ukraine, with the program for Kyiv reaching 16 billion dollars.
Trustees of Corporate Commercial Bank (CCB), currently in bankruptcy, announced the commencement of payments to creditors starting at 09:00 on November 5, 2024
Recently as a notable player in the world of cryptocurrency, Bulgaria has seen a community of investors and entrepreneurs attracted to the potential of digital assets.
Coface Bulgaria has projected a steady expansion for Bulgaria’s economy, despite ongoing economic challenges in the European Union
Bulgaria continues to be listed among countries under enhanced scrutiny by the Financial Action Task Force (FATF
The minimum wage in Bulgaria is set to increase to 1,077 leva
Bulgaria's budget deficit is expected to reach 4 billion leva (2 billion euros) by the end of October
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