Bulgaria's Energy and Water Regulator under Fire over Two-fold Increase in Power Prices

Bulgarian police officers and employees of the special services (SANS) made a surprise inspection in the Energy and Water Regulatory Commission (EWRC), trying to understand the reason for the high electricity prices on the energy exchange.

Turkish Central Bank lowers interest rate to 18 pct

Turkey's Central Bank on Sept. 23 lowered its one-week repo rate - also known as the policy rate - by 100 basis points to 18 percent.

The Monetary Policy Committee at its ninth meeting this year evaluated core inflation and supply shocks which can be affected by monetary policy, and decided to revise the bank's monetary policy stance.

Caretaker Cabinet Prepares Urgent Measures against Inflation and Rise of Energy Prices

The government is preparing a package of urgent economic measures due to inflation and the jump in electricity and petrol prices.

This was stated by the caretaker Prime Minister Stefan Yanev during his visit to Veliko Tarnovo. He specified that the measures will be announced by the end of this week or by the beginning of next.

Galloping Inflation Puts at Risk Many Bulgarian Households

С The leapin prices in Bulgaria is already noticeable with a naked eye, and the Confedertion of Independent Trsde Uniond in Bulgaria (CIYUB) predicts that the increase in electricity costs will exceed the the parameters of the socially bearable price. This is expected to affect the businesses as well as all other products.

Editorial: Prices and wages

The COVID-19 pandemic, beyond the public health crisis that it created, disrupted the supply chain internationally.

Ports were underfunctioning for a protracted period. Workers there were suspended, contracts were not executed, and therefore international transport was rocked by the pandemic.

Inflation Rate in Bulgaria stands at 3.7 Percent Y/Y vs July 2020

The National Statistical Institute reported here on Wednesday that inflation in August 2021 was 3.7 per cent compared to August 2020, and 0.8 per cent compared to July 2021.
The inflation rate since the beginning of the year (August 2021 compared to December 2020) was 3.1 per cent.

Fitch revises up Turkey's growth forecast to 9.2% this year

Fitch Ratings has revised up Turkey's 2021 economic growth forecast to 9.2%, according to the rating agency's Global Economic Outlook for September, released on Sept. 16. 

The new figure is a massive upward revision from the agency's previous upgrade made on Aug. 13 when it revised up Turkey's growth forecast to 7.9%, from 6.3%.