In December 2023, Bulgarian households deposited EUR 1.15 billion. The total amount of savings reached EUR 40 billion. Bank deposits of businesses and households amount to more than EUR 63.5 billion. In December last year, people were saving instead of spending money, because consumer loans have decreased as compared to November. They amounted to EUR 8.4 billion.
However, real estate purchases continue. In December 2023, Bulgarians borrowed mortgage loans to the tune of EUR 203.5 million, bringing the total amount of mortgage loans to EUR 42.2 billion, financial expert Levon Hampartsumian said. Analysts express some concern that business lending is lagging behind household lending, which is good for consumption but increases inflation.
“The divergence between the monetary and the fiscal policy pursued by the government continues to be the main reason why Bulgaria does not meet all criteria yet for entering the Eurozone,” Lyubomir Karimansky, member of the Governing Council of the..
Germany remains Bulgaria's strongest economic partner. Trade between the two countries for 2024 amounts to EUR 12 billion, said Tim Kurth, President of the German-Bulgarian Chamber of Industry and Commerce. At a ceremony held at the University of..
Bulgaria can meet the convergence criterion for price stability, needed for entering the Eurozone, in January 2025 and continue to meet it throughout the rest of the year, the Bulgarian National Bank (BNB) states in its macroeconomic outlook,..
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