Economy of the European Union

Bond yields ease in
 southern countries

Southern European bond yields fell by about 10 basis points on Friday as markets remained focused on European Central Bank action to mitigate eurozone economic stress and prevent Italy's credit rating from tumbling into junk territory.
European Union leaders agreed a 1.5-trillion-euro rescue package but delayed a decision on the program's details until the summer. 

Fitch lowers outlook of Greece's credit rating to stable

Fitch ratings agency has lowered its outlook on Greece's credit rating, from positive to stable, amid the financial impact the coronavirus measures are taking on the country's economy.

In its report issued late Thursday night, the ratings agency did not downgrade Greece's credit rating, leaving it at the BB level it had upgraded it to in January.

BTA: European Central Bank, National Bank of Bulgaria Set Up Swap Line

The European Central Bank (ECB) and the National Bank of Bulgaria (BNB, the central bank) have set up a swap line to ensure liquidity of up to two billion euros, the BNB said on Wednesday. The line will be in force until the end of 2020 or until needed. The maximum maturity in respect of each withdrawn amount will be three months, BTA reported.

President Iohannis to support economic recovery fund to benefit all EU member states

President Klaus Iohannis said on Thursday that he would support the creation of an economic recovery fund that could benefit all EU member states and also mentioned the importance of the EU cohesion policy. He spoke before a video conference with members of the European Council on measures to contain the COVID-19 pandemic.

EU official: Aiming to launch EU recovery fund at start of 2021 in best case scenario

The European Union is aiming to launch a recovery fund on Jan 1, 2021 in the best case scenario, an EU official said on Thursday.

Spain has proposed the creation of a fund of up to 1.5 trillion euros ($1.62 trillion) financed by perpetual debt. 

[Reuters]

BGN 844,340,088 paid under Rural Development Programme 2014-2020 in 2019

Last year, 1,378 contracts were signed and BGN 844,340,088 were paid under the Rural Development Programme (RDP) 2014-2020, according to the Annual Report of the Agriculture State Fund and the Paying Agency for 2019 approved by the Council of Ministers, said the government press office, quoted by Focus News Agency.

NSI Preliminary Data: The Government Debt of Bulgaria for 2019 is 24 205 Million BGN or 20.4% of GDP

According to preliminary data of the National Statistical Institute the General Government Institutional Sector reported in 2019 a surplus of 2 470 million BGN or 2.1% of GDP. The surplus in Central Government sub-sector amounted 2 349 million BGN or 2.0% of GDP.

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