The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real estate market in the country before and after the Global Financial Crisis. Initially, prices rose rapidly driven by demand stimulated by bank loans. After the crisis, prices fell due to difficulties in accessing financing and the sale of properties purchased with loans that could no longer be serviced," the analysis stated.
The Global Financial Crisis of 2008/2009 completely changed the situation. Access to credit became severely restricted and demand for real estate froze. This episode should not be forgotten and should always serve as a sobering reminder in the face of overly optimistic expectations about the property market, BNB warns.
From March 9 to 11, 2025, Inter Expo Center in Sofia plays host to the 41st edition of Holiday & SPA Expo. The event, organized with the support of the Bulgarian Ministry of Tourism, traditionally becomes a meeting point for leading experts,..
The budget for 2025 is feasible and will likely be the last one in Bulgarian leva, Minister of Finance Temenuzhka Petkova said in an interview with bTV. The draft law on the state budget for 2025 has been prepared without increasing existing..
A Bulgarian-Ecuadorian Business Forum will be held in Bulgaria, jointly organized by the Bulgarian Chamber of Commerce and Industry and the Pro Ecuador office in Italy, accredited for Bulgaria. The event will take place on March 13, 2025 at the..
The preparation of the non-banking financial sector for the introduction of the euro is at a very advanced stage and a significant part of it has..
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