Text size

Low debt, Euro aspiration and EU membership are the positive factors in Moody's assessment of Bulgaria

published on 7/30/24 12:30 PM

Moody's expects Bulgaria to join the Eurozone no later than the beginning of 2026. According to the rating agency, the growth of the Bulgarian economy in 2024 will be 2.9%. The ongoing domestic political crisis and the likelihood of new early elections are highlighted as undermining the effectiveness of institutions "due to the structural nature of the political crisis".

Efforts to introduce the single currency is the factor with a positive effect on the country's credit profile, the other two factors of stability are EU membership and the low level of public debt. "The very aspiration to the euro area has already contributed to developing institutional and governance strength," the analysis adds.

"The fight against corruption remains a significant challenge and amplifies the negative effect of structural deficiencies of the economy such as an ageing population and weak infrastructure," the interim assessment added.

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

Radio Bulgaria Economy credit rating agency euro Moody's

More from category

Bulgaria will apply method used in France and Spain to combat hail

There will be pilot testing of ground-based silver iodide generators for hail protection in two zones where the use of rockets is not allowed, the Deputy Minister of Agriculture Ivan Kapitanov said. At a meeting with Claude Berthet,..

published on 10/24/24 11:21 AM

Political instability is a major challenge for German investors in Bulgaria

The German economy has been shrinking and the government expects a decline of 0.2% of GDP. Some of the main reasons for this include unresolved structural problems related to lack of energy security, excessive bureaucracy and shortage..

published on 10/24/24 9:15 AM

Experts about Bulgaria’s financial policy as the country edges towards a new parliament and a draft budget for 2025

After the election for parliament on 27 October, the caretaker government has to submit a draft of a budget for 2025 to parliament by the end of the month. Some economic analysts say the budget of the country for 2024 is the worst in the past decade. Holes..

updated on 10/23/24 12:52 PM