Bulgarian official representatives are on a visit to the European Central Bank and the European Commission for a detailed discussion of the procedures and time schedule for Bulgaria’s accession to the Banking Union and ERM-2. On Tuesday, Finance Minister Vladislav Goranov announced that Bulgaria would run simultaneously for accession to the so-called Eurozone waiting room and the European Banking Union. Until recently the position of the Bulgarian government was that a priority should be given to ERM-2 accession that should be followed by accession to the Banking Union. In practice however, the country has been left with no choice. Membership of the Banking Union of the Eurozone implies that the European Central Bank will carry out supervision of large banks in the country and do the decision-making for banks in trouble.
According to Goranov, the simultaneous membership of ERM-2 and the Banking Union is a big challenge. "There is no other country which has traveled this path. There are many unclear things regarding procedures and time frame,” the finance minister pointed out.
200 million Leva (over EUR 102 million) of new debt is expected to be taken out on 13 May this year, according to the Bulgarian National Bank website. This is the date on which an auction has been announced for 6-month treasury bonds with an annual..
Fitch Ratings has affirmed Bulgaria's long-term foreign-currency Issuer Default Rating (IDR) at 'BBB' with a positive outlook. Bulgaria intends to request a reassessment of its progress on convergence criteria in 2H24, which should allow for..
The poverty threshold in Bulgaria was BGN 637.92 (EUR 323) per person per month in 2023. This is an increase of 21.3 per cent compared with the previous year , when the indicator was BGN 525.92 (EUR 266), the National Statistical Institute said. I..
The Organisation for Economic Co-operation and Development (OECD) forecasts an acceleration in Bulgaria's economic growth from 1.8% in 2023 to 2.5% in..
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