Fitch Ratings has affirmed Bulgaria's long-term foreign-currency issuer default rating (IDR) at 'BBB' with a positive outlook.
Bulgaria's ratings are supported by its strong external and public balance sheets versus 'BBB' peers and a credible policy framework, underpinned by EU membership and a long-standing currency board. In Fitch's view, Bulgaria should meet legal requirements for eurozone accession but the biggest obstacle remains the price stability criterion. HICP inflation in Bulgaria has been running above the rate of the three best performing EU member states since the beginning of the year and is expected to remain elevated throughout 1Q23. “We expect this year's GDP growth to be 3.5% (previous review: 3.0%) due to better-than-expected performance in 1H22 (…) We expect HICP inflation to remain in double digits throughout 1Q23 and to decelerate toward 5.5% yoy by end-2023,” the Fitch rating action commentary reads.
According to Eurostat estimates, price growth in the EU slowed down to 2.4% year-on-year in April 2025, compared to 2.5% in March. According to data reported by BTA, Bulgaria's annual inflation rate slowed down to 2.8% in April, down from 4% in March..
'The land of the rising sun' — this evocative name resonates beautifully with Bulgarians. The country is also known as the 'cherry blossom garden' and the 'mighty financial powerhouse'. These descriptions are all accurate, sparking the interest of..
Bulgaria will meet the price stability criterion for joining the eurozone without the need for subjective calculations, said the Institute for Market Economics (IME), which refers to inflation data in recent months. Following a positive..
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