Bulgarian National Bank

Approximately 10% of individuals who previously qualified for home loans will no longer be eligible under new regulations set by the Bulgarian National Bank (BNB), according to brokers' estimates. This change predominantly impacts those with incomes below the national average. The BNB has implemented stricter conditions for loan approvals by commercial banks.

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).

The Ministry of Finance in Bulgaria has introduced a draft Law on Cryptoasset Markets aimed at regulating the trading of crypto-assets. This initiative is in response to the European Regulation on crypto-asset markets (MiCa), which Bulgaria is required to adopt. The new legislation will lay the groundwork for crypto regulations in the country. Details about the bill were provided by Adv.

Dimitar Glavchev has been tasked with forming a government for the second time, following a failed attempt by Goritsa Grancharova-Kozhareva and the refusal of other potential candidates.

Bulgarian President Rumen Radev has once again selected Dimitar Glavchev as the candidate for acting prime minister, according to a statement from the presidency. At noon today, August 22, Radev is scheduled to meet with Glavchev at the presidential palace to formally appoint him and direct him to propose the composition of an interim government.

Two of the candidates from the president's "home list" have agreed to serve as the next acting Prime Minister. This follows meetings with President Rumen Radev, who is still deliberating on the final decision. The two individuals are current acting Prime Minister Dimitar Glavchev and Petar Chobanov, the Deputy Governor of the Bulgarian National Bank (BNB).

By the end of July, Bulgaria reached a new record for the value of money in circulation, according to data from the Bulgarian National Bank. The total amount of banknotes in circulation hit a historic high of 29.168 billion leva, surpassing the previous record set at the end of last year by more than 342 million leva.

Preliminary data shows a significant decline in foreign direct investments in Bulgaria for the first half of 2024. The net flow of direct investments in the country from January to June 2024 was positive, totaling 387.8 million euros, or 0.4% of GDP.

The Bulgarian National Bank has reported a rise in counterfeit 100 leva bills, according to statistics released on its website. In the second quarter of the year, there were 230 fake 100 leva notes identified and confiscated.

With Bulgaria set to adopt the euro, a transitional period will begin, during which prices for goods and services will be displayed in both levs and euros. This dual pricing phase will start one month following the official decision by the EU Council to adopt the euro and will last for 12 months. However, certain items and services will only display prices in euros.