Economy of the European Union

Economic crisis experience key in battling Covid fallout, says EBRD official

The European Bank for Reconstruction and Development (EBRD) stands ready to participate in bond issues and other investment initiatives by local business groups in Greece, with its total investment, after the implementation of initiatives in response to the coronavirus crisis, expected to exceed 4 billion euros.

JPMorgan, European bank to support Turkish businesses

The European Bank for Reconstruction and Development (EBRD) on June 10 said it will support the growth of small businesses in Turkey, especially ones led by women.

The bank will be joined by the JPMorgan Chase Foundation, which became the first private-sector philanthropic organization to co-finance grants for EBRD.

EC Vice President Valdis Dombrovskis: Bulgaria Met the Requirements for Public Finances, Not Fully Compatible to Join ERM II

The European Commission has presented a report on the progress of non-Eurozone countries towards the adoption of the euro.   EC Vice President Valdis Dombrovskis said there was encouraging progress in some countries.

Huge interest in bond issue

The Greek state is expanding its cash reserves by 3 billion euros - to be used for battling the new crisis stemming from the coronavirus pandemic and to support the Finance Ministry's fiscal measures - after Tuesday's 10-year bond issue; in terms of the amount drawn, this was the biggest since 2017, when Greece had also raised €3 billion, through a five-year bond issue.

World Bank: Bulgarian Economy to Decline 6.2% for 2020 and Growth of 4.3% in 2021

The coronavirus crisis will shrink the global gross domestic product by 5.2% in 2020. For the Bulgarian economy, the forecast is a decline of 6.2% for 2020 and a recovery next year to a growth of 4.3%. This is data indicated in the World Bank's Global Economic Prospects reports.