The Bulgarian Ministry of Finance expects the Consolidated Fiscal Program (CFP) balance on a cash basis in the first nine months of 2016 to be positive to the tune of EUR 1.7 billion, or 3.8% of the forecasted gross domestic product. In the first nine months of 2015 for example the surplus amounted to EUR 319 million only, or 0.7% of the country’s GDP. In September 2016 the volume of revenues exceeded the expenses, which was mainly due to higher tax and non-tax revenues in the state budget. The level of expenses remains low, because the largest investment cost disbursements are are usually made at the end of the year, when the works are received. The improvement in the current CFP balance resulting from the excess of revenues over EU fund expenditures is considerable, with the EU funds surplus being 1.6% of the projected GDP, the Ministry of Finance further informs.
The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real..
The international rating agency Standard & Poor's (S&P Global Ratings) has affirmed Bulgaria's 'BBB/A-2' long-term and short-term foreign and local currency sovereign credit ratings. The rating outlook remains positive. If a stable..
In the next 3 to 5 years, Bulgaria will experience a shortage of more than 250,000 specialists with higher education. For the past 8 years, Bulgaria has missed the opportunity, which a number of EU countries have taken advantage of, to conclude an..
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