Money sent by Bulgarian emigrants to relatives in the country has gone down significantly during the first quarter of 2010, data from the Bulgarian Central Bank, BNB, shows. From January to March 2010, emigrants have wired EUR 231 M, which is nearly 11% less compared to the same period of 2009. The reduction is, however, [...]
Bulgaria’s foreign direct investments showed a staggering 95% drop in the first two months of 2010, year-on-year, the country’s central bank announced. According to preliminary data of the Bulgarian National Bank released Thursday, the net FDI in Bulgaria in January and February of 2010 was only EUR 28 M (0.1% of the GDP). In the [...]
The combined profit of the banks in Bulgaria will decline by 50% in 2009 compared to 2008. This has been forecast by Ivan Iskrov, head of the Bulgarian National Bank, as cited by the Pari Daily. Thus, the total profit of the Bulgarian banks is expected to amount to BGN 700 M in 2009. The [...]
Bulgaria PM and Bulgarian National Bank (BNB) Governor Ivan Iskrov have held a meeting to discuss the stability of Bulgaria’s banking system Thursday morning. After Borisov and Finance Minister Simeon Djankov met with Iskrov, all three assured that the banking system in Bulgaria is stable in the short and long term. Borisov added that interest [...]
2 The Bulgarian National Bank governor has ambitiously stated that the country will not be hit by the global crisis due to the stability of the banking system. “Despite the heavy global crisis all around the world, the Bulgarian economy and the citizens have and will escape unhurt,” Ivan Iskrov said after his meeting with [...]
A total of 349 Bulgarians had official bank accounts with over EUR or BGN 1 M by the end of September 2009, according to statistics of the Bulgarian National Bank. 214 Bulgarians have deposits of over EUR 1 M in Bulgarian banks. Another 117 hold deposits of over BGN 1 M. Only 18 are the [...]
Bulgaria’s banking system is stable and has good indicators, according to Bulgarian National Bank Governor, Ivan Iskrov. During the Fourth Annual Meeting of Government and Business in Sofia Tuesday, Iskrov said the banking system in the country had high capital adequacy, and continued to be profitable. He cited data showing that in the first nine [...]
The Bulgarian National Bank (BNB) has announced the lowest basic interest rate since the index was recorded for the first time in 1991. From November 1 2009, the basic interest rate has been set at 0,61%, which is down by 0,85 percentage points compared to the previous month. This is the first time that the [...]
Bulgaria’s former Finance Minister, Plamen Oresharski, and the Central Bank Governor Ivan Iskrov had a secret deal for depositing about 14% of the fiscal reserve into commercial banks. This was announced Friday by Bulgaria’s Finance Minister, Simeon Djankov, after his predecessor Oresharski slammed the 2010 draft budget, and asked what was going to happen with [...]
Kalin Hristov, the newly-appointed Deputy Governor of the Bulgarian National Bank, was sworn in at the Parliament on Thursday. Kalin Hristov is coming into office for a six-year term. He is taking over the Emission Department of the BNB from outgoing Deputy Governor Tsvetan Manchev. The Emission Department is in charge of the currency peg [...]
World Bank President Heaps High Praise on Bulgarian Govt
Bulgarian State Companies with New Orders for Bank Selection
World Bank President Robert Zoellick Heads for Bulgaria
Bulgaria Consolidates Control of Finance, Customs, Tax Authorities
Average Wage in Bulgaria Up 9% Q2 Y/Y
Bulgaria with Staggering Export Growth to Non-EU States in 2010 H1
Bulgarian State Railroads to Request Loan from World Bank
