All News on Economics in Bulgaria

Bulgaria 'on EU Average' in Compliance to Brussels Recommendations

Bulgaria has observed just 16% of economic recommendations issued by the EU Commission, a European Parliament survey reveals.

The data cited by EurActiv shows the country is close to the European average, which is 18% and which shows member states largely ignore the EU Commission's proposals for reform.

Bulgaria Records Lowest Price Levels in EU – Eurostat

The lowest price levels in the European Union for 2013 for consumer goods and services were found in Bulgaria - 48% of the EU average, according to Eurostat latest data.

Mayor Fandakova Worried About Sofia's Credit Rating

Sofia Mayor Yordanka Fandakova said she was worried about the city's credit rating, after Standard and Poor's cut Bulgaria's rating to BBB-.

“I am extremely worried, because the state's and the municipalities' credit ratings are like interconnected vessels,” Fandakova told Focus news agency. 

Bulgaria's Industrial Production Up By 5% in April – Eurostat

According to Eurostat data, Bulgaria's industrial production recorded significant increase of 1.4% on a monthly basis in April overcoming the drastic decrease of 1.5% in March.

On an annual basis, Bulgarian industrial production showed positive results in April with 5.0% increase which is above the average industrial growth in the EU.

Cabinet Approves Pensions Rise from July 1

Pensions for elderly people are to increase by 2.7% next month, Bulgaria's government decided Wednesday.

Its new minimum value will be BGN 113 (roughly EUR 56.5), BGN 3 more than the current value, according to

The latest decision comes after trade unions' calls that  the social pension be pushed up nearly 3%.

Bulgaria Plans to Introduce Financial Education in Secondary Schools

Bulgaria's government is planning to introduce financial education in secondary schools, Prime Minister Plamen Oresharski revealed.

The idea is part of a national strategy for increasing financial literacy, envisioned in the period 2014-2018, and will be implemented into the curriculum at various stages, informs.

Deposits in Bulgaria Generate Highest Revenue in 6 Years

Revenues arising from bank deposits have recorded the highest rates in 6 years, according to data by Bulgaria's National Bank and the National Statistical Institute.

For the last year, every BGN 100 on deposit has generated a revenue of BGN 5.50, nearly two-thirds of it coming from the interest and the rest is due to the negative inflation rates, Bulgarian 24 Chasa infroms.

Bulgaria's EU Imports Record 6.1% Increase in Q1 2014

In the period January-March 2014 Bulgarian exports to the EU increased by 0.1% compared to the corresponding period of the previous year and amounted to BGN 6.2B.

Bulgaria's Parliament OKs Issuance of Debt worth BGN 3 B

The Bulgarian Parliament has approved the issuance of debt worth EUR 1 493 000.

This was made possible through the adoption of a contract between Bulgaria and Citigroup Global Markets Limited, HSBC Bank PLC and JP Morgan Securities PLC, according to reports of Sega daily.

The contract defines the relations between the state and the banks related to the issuance of bonds.

Budget Committee in Parliament Approves State Debt Emission

The budget committee in Parliament approved the emission of a new state debt of Bulgaria, reports BNT. 

The loan of around BGN 3 B, according to Finance Minister Petar Chobanov, will be used for paying off old debts and covering the budget deficit. He said that no matter when the early elections will be held, the country will remain in a stable financial position. 

IMF disburses 3.4 billion euros to Greece

The fund said Athens does not need to impose new austerity measures this year. Also in business news: Bulgaria leads the region in Foreign Policy magazine's Baseline Profitability Index.

Bulgaria's FinMin Predicts 2.1% GDP Growth in 2014

Bulgarian Finance Minister Petar Chobanov has predicted an economic growth of 2.1% in 2014.

Speaking Friday in Plovdiv, where he attended a meeting with local business representatives, he suggested that the upward revision of the forecast had been triggered by statistics for the last few quarters.

Bulgarian Banks Keep Reducing Savings Interest Rates in April

Bulgarian banks continue to lower interest rates on savings products and to improve, mainly through new promotions, the consumer loans and credit cards conditions.

According to an analysis of for April 2014, there has been an improvement in the conditions for housing and mortgage loans, as banks mainly focus on cutting back fees, Bulgaria's National Radio informs.