Economy of Bulgaria

Bulgaria’s GDP Growth Intensifies in Q2 2014

Bulgaria's economy grew by a preliminary 1.6% on the year in the second quarter of 2014 following a 1.2% increase in the first quarter, the statistics office said on Wednesday.

The second-quarter increase is an improvement on the result recorded in the equivalent period of 2013 when Bulgaria's Gross Domestic Product (GDP) grew by 0.4%.

Finance Ministry Meets with EPIC to Discuss KTB Recovery

Interim Finance Minister Rumen Porozhanov has announced his institution is to meet representatives of Vienna-based fund EPIC in the coming days.

After a cabinet session Porozhanov explained his ministry sought to get familiar with prospective intentions to rescue troubled Corporate Commercial Bank (Corpbank or KTB).

BNB Welcomes KTB Shareholders' Efforts to Work on Recovery Plan

Bulgarian National Bank (BNB) has welcomed the efforts of EPIC Financial Consulting to prepare a plan for the recovery of Corpbank (KTB), Monday.

BNB is willing to participate within its competence in discussions on the restructuring and recapitalization of the bank, a statement issued by the press office of the Central Bank reads.

Corpbank Rescue Options to Be Discussed at BIA

Bank experts, trade-union representatives and employers are set to discuss ways out of the crisis at Corporate Commercial Bank (Corpbank or KTB) and possible bailout scenarios.

A letter from the Sultanate of Oman's State General Reserve Fund (SGRF) is to be discussed during the talks at the Bulgarian Industrial Association (BIA).

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