The Bulgarian National Bank has lowered the base interest rate for the second consecutive month. As of August 1, it stands at 3.53%, down from 3.63% in July. Since the end of 2023, the base interest rate has been gradually falling. From February 2016 to September 2022, the base interest rate was 0.00%. On October 1, 2022, the rate went up to 0.49%.
As of June 30, the net profit of the banking system for 2024 was EUR 0.9 billion, representing a 7.1% increase compared to the first six months of 2023, according to BNB statistics. Over a quarter of the income comes from fees and commissions. Banks earned EUR 1.6 billion from interest on loans in the first half of the year and paid out EUR 290 million in interest on deposits. Bank assets increased by over EUR 1 billion or 1.2% in the first half of 2024. Losses have risen by EUR 46 million to EUR 139 million, representing a 50.1% increase compared to the first six months of 2023.
Housing loans in Bulgaria increased by 24.8% year-on-year, reaching BGN 22.3 billion (EUR 11.4 billion) by the end of June 2024, according to the BGNES news agency. Consumer loans also rose by 14% year-on-year compared to June 2023, reaching BGN..
Bulgaria’s real GDP growth is expected to stand at 2.1% in 2024, indicates the macroeconomic forecast of the Bulgarian National Bank (BNB) in June. Bulgaria’s real GDP growth is expected to stand at 2.1 per cent in 2024, driven by the positive..
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..
The Romanian National Company for Road Infrastructure Administration (CNAIR) has announced a tender for a feasibility study for the construction of a..
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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