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BNB expects economic growth, investments in real estate continue

published on 2/26/24 10:44 AM

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The Bulgarian National Bank (BNB) expects the trend towards a slowdown in economic growth to stop. In the first half of 2024, the Bulgarian economy is expected to grow supported by the improved prospects for external demand for Bulgarian goods and services, writes the quarterly "Economic Review".

The Bulgarian National Bank indicates that fiscal policy remains pro-inflationary due to an increase in social payments and the maintenance of budget deficits.

"In 2023, the annual growth of loans to households has remained very high, especially in housing lending. The main factors for growth continue to be rising incomes, low interest rates on housing loans, which are actually negative, and households' preferences to buy real estate properties as alternative investments or savings," the BNB also reported.

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