Finance Ministry

“The fact that the Greek banks recapitalization needs do not exceed 25 billion euros is positive,” the German Finance ministry spokesman, Juerg Weissgerber, said on Monday clarifying, though, that it is too early to estimate whether the total Greek program could be contained.

The Finance Ministry of Bulgaria reported a budget surplus of BGN 621.5 M at the end of September, which represents 0.7 % of projected GDP.

For comparison, Bulgaria had a budget deficit exceeding BGN 1.4 B at the end of September last year.

On Monday, November 2, all acts ceased as a result of capital controls – such as foreclosures of homes as part of debt collection – will once again swing into action according to a decree by the Ministry of Justice, Transparency and Human Rights.

The new draft bill on bank recapitalization will be voted by Greek Parliament on Saturday night. The bill envisages that all actions should have been completed ahead of the January 1, 2016, bailout so as to avoid any risk of a bailout in deposits.

the spokesman of the German Finance ministry, Martin Jaeger, sent a message to Greek government saying that Greece should fully implement its commitments to the third Memorandum adding that Athens has still a lot of work to do in order to get the 2 bln tranche.

“Of course Greece must implement the Memorandum” said Martin Jaeger to journalists during a press conference in Berlin.

Something very serious has been happening in Turkey, prompting many of us to question whether our property rights are still under protection. This "simple" question has dramatic ramifications with regard to the country's economic future, as well as its democracy. 

The State General Reserve Fund of Oman has taken legal action against Bulgaria, seeking to recover the book value of its investment in collapsed Corporate Commercial Bank, Sofia-based 24 Chasa daily reported on Monday.

Bulgaria's Finance Ministry has revised its target for this year's consolidated budget deficit to 3.3% of GDP from originally projected 3.0%.

The revision, which suggests a rise in spending by the end of the year, has been announced alongside the release of the 2016 budget draft and an updated budget forecast for the period 2016-2018 on Monday.

Bulgaria's economy is expected to grow by 2.1% real next year, an increase compared to 2.0% projected for 2015, the Finance Ministry said on Monday.

Consolidated budget deficit equivalent to 2.0% of Gross Domestic Product (GDP) is projected for next year in a 2016 budget draft and an updated budget forecast for the period 2016-2018 published on the Finance Ministry website.

The omnibus bill which includes the austerity measures agreed with Greece’s creditors was voted during yesterday’s plenary session.