Fitch Ratings has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB' with a Positive Outlook, reported BTA.
''Bulgaria's ratings are supported by its strong external and public finance balance sheets versus 'BBB' peers and credible policy framework, underpinned by EU membership and a long-standing currency board. This is balanced against low labour productivity and unfavourable demographics, which weigh on potential growth and government finances over the long term'', Fitch Ratings said.
The Positive Outlook reflects the prospects for euro adoption, which would lead to further improvement in external metrics, Fitch Ratings noted.
Fitch has revised its 2025 growth forecast up to 3.1%, from 2.5% expected in October 2024, due to the stronger carry-over effect and improved domestic political situation. Strong nominal wage growth will continue to support private consumption, the analysis further reads. The agency notes that it ''remains cautious about the capacity and pace of reform implementation, but EU funds flows should increase and will support investment activity''.
The real estate market in Bulgaria has steadily been growing in the past few years. There has been talk of a price bubble, inflated to serious proportions at the time of the pandemic, though expectations that it is going to burst have come to nothing...
One of the key steps in the expansion of the underground gas storage at Bulgaria's Chiren gas storage facility, the construction of the above-ground infrastructure and the installation of new compressors, has already been completed, Energy Minister..
Transformation – this is the word that most accurately describes the current state of the Bulgarian industry. According to an analysis of sectoral data for the period from 2008 to the beginning of 2024, made by the Institute for..
One of the largest cargo ships in the world docked for the first time at the Port of Varna, delivering 58,000 tons of rapeseed, BGNES reported...
Mostly Cloudy
Partly Cloudy