Text size

Fitch affirms Bulgaria's credit rating at ‘BBB’ with stable outlook

Bulgaria can adopt the Euro in 2024 at the earliest

published on 8/22/20 10:58 AM

Photo: EPA/BGNES

The international rating agency Fitch has confirmed Bulgaria's long-term credit rating in foreign and local currency "BBB" with a stable outlook, the press center of Bulgaria's Ministry of Finance announces.

The rating is supported by the strong external and fiscal balances, as well as by a credible policy framework supported by membership of the European Union and the long-standing functioning of the currency board. The limiting factors for the rating are both lower income levels compared to countries with the same rating and unfavourable demographic factors that could limit growth and put pressure on public finances in the long run.

According to Fitch, Bulgaria's accession to ERM II and the Banking Union in July 2020 is an important achievement. Bulgaria can adopt the euro at the earliest in January 2024, the agency predicts.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy BBB credit rating euro Fitch

More from category

NSI: Business expectations fall due to uncertain economic environment

In September, the overall Business Climate Indicator for the country decreased by 1 point compared to August. The decline reflects a less favourable assessment in the industry sector, where the indicator fell by 5.2 points. Managers in industry reported..

published on 9/30/24 2:02 PM

New procedure under Recovery and Resilience Plan provides access to over BGN 1 billion for businesses

The procedure for renewable electricity storage projects under the National Recovery and Resilience Plan is now open and proposals are being accepted. There is a lot of money, the deadlines are short and the conditions applicants have to meet are not..

published on 9/28/24 5:05 AM

The EBRD lowers growth forecasts, but is optimistic about inflation

The European Bank for Reconstruction and Development (EBRD) has slightly lowered its growth forecasts for the regions in which it invests. Bulgaria's economy will grow by 2.9 per cent in 2025, 0.1 per cent less than initially forecast in May...

published on 9/26/24 1:17 PM