Fitch Ratings has raised the outlook on Bulgaria's Long-Term Foreign-Currency Issuer Default Rating (IDR) from stable to positive. The current assessment stems from lower macroeconomic risks associated with the Covid-19 crisis, the continuing interest in joining the euro zone, as well as the support from EU funds.
In the coming years, Bulgaria is expected to be one of the main beneficiaries of EU financing, including 16.6 billion euros (27% of GDP in 2020) under the multi-annual financial framework (2021-2027) and 7.5 billion euros (12% of GDP for 2020) in the form of EU grants under the NGEU mechanism. According to Fitch Ratings, this would increase economic growth from projected 3% in 2021 to 4-5% in the period 2022-2025.
In the long run, however, Fitch also points out a number of unfavorable factors, including the demographic structure of the population.
The final price at which Bulgargaz will sell natural gas in December to end suppliers and to persons with a license for the production and transmission of thermal energy is 75.89 BGN/MWh (excluding excise duty and VAT), the company announced...
Butter and vegetable oil are the products that have increased in price the most over the year. The retail price of vegetable oil will range between 3 and 5 BGN (EUR 1.5-2.5) per liter until the new harvest. The value of the small consumer basket,..
The assets of private pension funds have reached EUR 13 billion. According to data from the Financial Supervision Commission, they have increased by more than 20% compared to the same period last year. As of September 30, 2024, the number of..
Shell Exploration and Production (96) B.V , a subsidiary of Shell, will explore for oil and natural gas in Block 1-26 Khan Tervel, located in..
The Bulgarian-Moldovan Chamber of Commerce and Industry held a meeting with leading specialists from the energy sector of Bulgaria and Moldova. The..
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