Bulgaria’s banks entered the current crisis well prepared, because a lot was done in the recent years, the Governor of the Bulgarian National Bank Dimitar Radev pointed out during the opening of the new academic year at the University of National and World Economy, quoted by BGNES. Dimitar Radev emphasized the unprecedented asset quality review and the stress tests performed by the Bulgarian National Bank and the European Central Bank. In his words, in the beginning of the crisis, the banks undertook additional measures to boost their liquidity. The good condition of the banks allowed them to create conditions for mitigating the consequences of the crisis for business and citizens. The main instrument used for this purpose is the so-called “private moratorium” on bank loan payments. More than 14,000 enterprises and over 93,000 households have benefitted from this measure and got payment deferrals to the tune of EUR 4.6 billion.
The caretaker government has instructed Deputy PM and Minister of Finance Lyudmila Petkova to submit, by 11 September, a proposal for amending the REpowerEU chapters of the recovery and resilience plan. This is being done so as to make the..
Andrey Gyurov will cease to perform his duties as Deputy Governor in charge of the Issue Department and Member of the Governing Council of the Bulgarian National Bank (BNB) until the court and parliament make a decision, the BNB announced. The..
The direct losses for Bulgaria from the delayed full accession to the Schengen Area amount to EUR 424 million, caretaker Minister of Economy Petko Nikolov said . He quoted a report by the Economic Research Institute at the Bulgarian Academy of..
All non-household consumers will be compensated for the high cost of electricity by the end of the year, the government has decided. The European..
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