Money

Bulgarian Bank for Development Sets up Investment Fund

Bulgarian Bank for Development Sets up Investment Fund

13:32 | 08.08.2017 | by Standartnews
(August 8, 2017 Sofia) - Bulgarian Development Bank JSC, together with some international financial institutions, is launching a medium-term project to establish a social investment fund to support capital of socially-responsible companies in Bulgaria. This measure is in compliance with the adopted by the Council of Ministers and developed by the Ministry of Economy and the Ministry of Finance "Strategy 2017-2020 of the Bulgarian Development Bank JSC". Minister of Economy Emil...
Chinese Businessmen Eye Opportunities in Bulgaria.

Chinese Businessmen Eye Opportunities in Bulgaria.

16:04 | 03.08.2017 | by Standartnews
(August 3rd, 2017 Sofia) - Opportunities for participation of high-tech Chinese companies in the first science and technology park in Bulgaria, Sofia Tech Park, were discussed by Bulgaria's Minister of Economy Emil Karanikolov and HE Mr. Zhang Haizhou, China's Ambassador to Bulgaria, at a round table held in Sofia, Today. "We are looking for international partners to participate in the project; it provides good conditions for the Chinese companies and institutes that consider expanding...
Bulgaria, Macedonia Sign Natural Gas Memorandum

Bulgaria, Macedonia Sign Natural Gas Memorandum

17:43 | 01.08.2017 | by Standartnews
(August 1, 2017 Sofia) - The governments of Bulgaria and Macedonia have reaffirmed their political intention to increase the security of the energy supplies to both countries in the region of Southeast Europe and the European Union, and have expressed their support for the formation of a European Energy Union. This is stipulated the Memorandum of Understanding and Cooperation on Natural Gas, signed between the two countries today. The document was signed by Minister of Energy of the...
Eight Thousand Company Owners Sell or Close Their Business in a Year’s Time

Eight Thousand Company Owners Sell or Close Their Business in a Year’s Time

11:35 | 31.07.2017 | by Standartnews
(July 31, 2017, Sofia) – Eight thousand small businessmen sold their companies or closed them down in 2016, the national statistical institute has said. Experts say the small and medium sized businesses in Bulgaria cannot survive the tough competition from abroad. As a result, the number of SMEs in the country has been falling for several years now, along with that of freelancers. The statistical institute also reports that about 22,000 Bulgarians lost their job in 2016. Many...
Corporate Loans in Bulgaria More Expensive

Corporate Loans in Bulgaria More Expensive

16:06 | 27.07.2017 | by Standartnews
(Sofia July 27, 2017) The banks in Bulgaria have set higher interest rates on the big corporate loans. In June 2017, the average annual interest rate on corporate loans up to EUR 1 million was 3.43%, while in May it was 3.13%, the central bank has said. The average interest rate on corporate loans bigger than EUR 1 million went up from 3.39% in May 2017 to 3.87% in June. Regarding the small corporate loans in BGN, the increase is from 4.18 to 4.25 per cent a year. Since the...
Bulgaria Sees Record-high Export in 2016

Bulgaria Sees Record-high Export in 2016

17:29 | 21.07.2017 | by Standartnews
Bulgaria's export for 2016 amounts to EUR 23.6 B, which is an absolute record, the Bulgarian Industrial Association has reported. This is an increase by 400% since 2001, when BIA first started monitoring the country's export rate. Thus, Bulgaria is now the 62nd largest exporter in the world. In 2016, we exported mostly white and brown goods, electricity, heavy machinery and electronic devices.
Foreign Investors Flee Bulgaria

Foreign Investors Flee Bulgaria

14:47 | 18.07.2017 | by Standartnews
(Sofia, July 18, 2017) In the period January-May 2017 the direct foreign investments in Bulgaria's economy amount to EUR 119.8 M, or 0.2% of the country's GDP. Year-on-year, this is a decrease by 77.2%, or EUR 405.9 M. In the month of May alone, they slumped by EUR 6.2 M, owing mostly to a BGN 11 M drop in the attracted share capital (the contributions of foreign investors to the capital of Bulgarian companies), as well as to significant decrease in the purchases of real property in...
Inflation Eats up 1.3% of the Bulgarians’ Savings a Year

Inflation Eats up 1.3% of the Bulgarians’ Savings a Year

15:06 | 13.07.2017 | by Standartnews
(June 13, 2017 Sofia) The Bulgarians who hold bank deposits are bound to lose 13 BGN per each 1,000 BGN a year, because the inflation rate in the country is higher than the interests on personal bank deposits The annual inflation rate at the end of June 2017 is 1.9%, while the average interest rate on the bank deposits of natural persons is 0.56% a year.
Bulgaria’s State Debt Shrinks by EUR 970 M

Bulgaria’s State Debt Shrinks by EUR 970 M

07:56 | 29.06.2017 | by Standartnews
At the end of April 2017 Bulgaria's state debt was EUR 34.112 B, or 70% of the country's GDP. This is by 1.5%, or EUR 530.1 M less than it was at the end of 2016, and by EUR 973.2 (2.8%) less than it was in April 2017, the central bank said. And while the gross foreign debt of the state administration shrank by 4.1% in the period December 2016-April 2017 and by 2.9% year-on-year, the foreign debt of the banking sector for the same period increased by 10.8%.
Bulgarian Insurers Export BGN 3.89 B

Bulgarian Insurers Export BGN 3.89 B

08:05 | 12.06.2017 | by Standartnews
Bulgarian insurers have exported a total of BGN 3.89 B in a search for higher profits. As of end-March 2013, they managed a total of BGN 7,261 B. This is an increase by BGN 999 M, or 16% in a year's time. Only 46.4% of this money has been invested in financial instruments in Bulgaria. The rest has been exported to foreign financial hubs or funds, most of them in the EU, who offer more lucrative interest and return rates. One third of the assets of the insurers operating in Bulgaria are in...
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