Economy of the European Union
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 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.
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 The maximum maturity in respect of each withdrawn amount will be three months, BTA reported.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 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.
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.