In the third quarter of 2024, Bulgaria’s Gross Domestic Product (GDP) increased by 2.2% YoY and by 0.5% QoQ, according to the preliminary estimate by the National Statistical Institute (NSI). Final consumption increased by 4.6% YoY, indicating a robust domestic market. Exports grew by a modest 0.1%, while imports rose by 2.9%, reflecting increased demand…
Banks in Bulgaria have reported a tightening of credit conditions for both businesses and households, primarily driven by increased interest rates. This tightening has been particularly evident in consumer loans, according to the Bulgarian National Bank’s (BNB) Economic Review for the third quarter of 2024. Despite the stricter conditions, banks have slightly relaxed the maximum…
A total of 282 businesses relocated from the areas of hostilities and frontline regions are now operating in the Zakarpattia region. The relevant statement was made by Zakarpattia Regional Military Administration Head Myroslav Biletskyi during the development forum Re:Open Zakarpattia. “Currently, we have 282 entities, which have resumed operations, including individual entrepreneurs,” Biletskyi said. In…
Since the beginning of 2024, citizens and businesses have increased the volume of domestic government bonds purchased by UAH 45.5 billion. In particular, as of November 1, individuals increased the volume of their domestic government bonds portfolio by UAH 17.3 billion, to UAH 70.5 billion. Legal entities increased the volume of bonds purchased by UAH…
Bulgaria is set to request protective measures from the European Commission regarding the import of Ukrainian honey. The request will be made during a meeting of EU agriculture and fisheries ministers in Brussels. The country’s position highlights that the sharp rise in Ukrainian honey imports is creating difficulties for local producers, as the large quantities…
A new industrial park in Valmiera, Latvia, is set to create hundreds of jobs both there and in Estonia, and attract export-focused investors, “Aktuaalne kaamera” reports. This, it is argued, will benefit the economies of both countries, and key players such as Estonian biotech firm Fibenol are driving its development, with the major work underway…
At the end of the third quarter, Bulgaria’s treasury faced a deficit exceeding 2.8 billion leva, according to data on the implementation of the fiscal program, as approved by the Cabinet of Ministers. The Ministry of Finance predicts that this shortfall will rise to 4 billion leva in October, with an expected deficit for the…