Bulgarian National Bank
December 2023 Witnesses Robust Growth in Deposits and Loans Across Sectors in Bulgaria
Recent data released by the Bulgarian National Bank (BNB) reveals a significant uptick in both deposits and loans during December 2023, signifying positive economic dynamics in the country. Non-financial corporations saw a noteworthy increase in deposits, amounting to BGN 43.829 billion, marking a substantial 9% surge compared to the same period in the previous year.
Countdown Begins: Bulgaria Faces Five-Month Challenge to Meet Eurozone Entry Criteria
Bulgaria is on a tight five-month deadline to fulfill the prerequisites necessary to join the eurozone by January 2025, revealed Deputy Minister of Finance Ivaylo Yajdjiev on January 19. The primary criteria involve lowering the inflation rate and adopting the BNB law to align Bulgaria's central bank with European standards.
Bulgaria Takes Stride Toward Eurozone Entry with New National Bank Law
The majority in Bulgaria's parliament has given the green light to the first reading of a new law governing the Bulgarian National Bank (BNB), marking a pivotal moment in the country's journey toward Eurozone accession. The legislation, if passed, will play a crucial role in facilitating Bulgaria's entry into the Eurozone.
Countdown to Eurozone: Bulgaria's Campaign Gears Up
Bulgaria is gearing up for an extensive national campaign to usher in its entry into the Eurozone on January 1, 2025. The Ministry of Finance has announced that the campaign is set to kick off at the end of January 2024, with the launch of an informative website dedicated to providing essential details about the Euro adoption.
Celebrating 25 Years of the Euro: Bulgaria Aims to Join the Currency Union
Marking a significant milestone, the euro commemorates its 25th anniversary since its inception. Introduced initially in 11 countries, the single European currency has grown to encompass approximately 350 million users across 20 countries in the eurozone. Bulgaria eyes becoming the 21st member, intending to join the currency union early next year.
Debt Check: Bulgaria's External Liabilities Dip Below EUR 42.5 Million
Bulgaria's Gross External Debt stood at approximately EUR 42,410 million by the end of October 2023, marking a 3.7% decrease from the same period in 2022, according to data released by the Bulgarian National Bank (BNB).
Government Greenlights New Law Paving Bulgaria's Path to Eurozone Entry
The Bulgarian government has given its nod to a brand-new Law on the Bulgarian National Bank (BNB), specifically designed to facilitate Bulgaria's seamless integration into the Eurozone. This legislation, set to replace the existing law upon the country's adoption of the euro as its official currency, received approval during the Council of Ministers' meeting today.
Bulgaria Sees Surge in Foreign Investments, Hits 15-Year High in 2023
Foreign investments in Bulgaria have soared in the first ten months of 2023, reaching nearly EUR 3.4 billion—an impressive increase of over EUR 1.1 billion from the same period in 2022, marking a remarkable 53.6% year-on-year growth. Preliminary data from the Bulgarian National Bank highlights this as the country's highest foreign investment surge in almost 15 years.
Bulgarian Parliament Amends Constitution, Removes SCC President from Caretaker PM List
During the second reading of constitutional amendments, Parliament voted on Tuesday to exclude the Supreme Court of Cassation (SCC) president from the list of candidates for the President's selection of a caretaker Prime Minister.
EU Commissioner Gentiloni Assures Support for Bulgaria's Schengen Accession During Talks with PM Denkov
European Commissioner for Economy Paolo Gentiloni visited Bulgaria, emphasizing the European Commission's unwavering support for Bulgaria's Schengen accession and its aspirations to meet the criteria for joining the eurozone.