Bulgaria Expects Boost in Winter Tourism with Increased Foreign Visitors
Bulgaria is expecting a boost in winter tourism this year, with about 3.1 million foreign visitors projected between December and March
For the first time, the money circulation in Bulgaria has surpassed 30 billion leva. According to the Bulgarian National Bank's (BNB) publication "Overview of the Issue and Cash Activity," as reported by BTA, the total value of banknotes and coins in circulation reached BGN 30 billion and 356 million as of the end of September.
The number of banknotes in circulation stands at 604.9 million, with a total value of 29 billion and 695 million leva. The 50 leva banknote is the most prevalent, accounting for 41.5% of the total share, or 251.1 million pieces. Additionally, there are 3.315 billion coins in circulation, with the number of exchange coins increasing by 140.1 million, or 4.4%, compared to last year.
In terms of quantity, the most common coin is the 1-cent piece, making up 27.7% of the total with 919.7 million pieces. The most frequently used coin by value is the 1 leva coin, representing 32% of the total monetary value, totaling 197.2 million leva.
The current amount of circulating money is nearly four times greater than it was in September 2007, when it was recorded at 7.568 billion leva. The BNB’s regular monthly balance sheet indicates that the threshold of 30 billion leva in banknotes and coins was already reached in August this year.
Overall, the money supply in the economy has increased by 6.8% or 1.928 billion leva compared to September of the previous year.
The Bulgarian National Bank (BNB) has voiced strong opposition to a proposed 10% tax on banks' excess profits, citing concerns that it would destabilize the financial sector
Economist Rumen Galabinov has stated that Bulgaria's potential future membership in the Eurozone could significantly benefit the country's economy
The Gross Domestic Product (GDP) for Bulgaria in the third quarter of 2024 grew by 2.4% compared to the same period in 2023
The Organization for Economic Co-operation and Development (OECD) has projected that Bulgaria will join the eurozone in 2026
Bulgarians allocate a significant portion of their savings to deposits, with 73% of their assets held in this form
Bulgaria's Acting Finance Minister Lyudmila Petkova stated that discussions are ongoing regarding the payment of a 100 leva (50 euros) Christmas supplement to pensioners
Bulgaria Ranks Second in the Balkans at Paris 2024 Olympics, 26th Overall
Bulgaria Leads Europe in Heat-Related Deaths in Record-Breaking 2023