In the first quarter of 2025, Bulgaria experienced one of the steepest increases in house prices across the European Union, coming in second only to Portugal. Property values surged by 15.1% compared to the same period last year, significantly outpacing the EU average growth rate of 5.7%, according to data from Eurostat. This positions Bulgaria…
At a briefing, Finance Minister Temenuzhka Petkova expressed optimism that Bulgaria was on track to meet the eurozone’s price stability criterion once again in June. Citing the 12-month Harmonized Index of Consumer Prices (HICP) published by Eurostat, Petkova noted that Bulgaria’s inflation stood at 2.8%, slightly below the preliminary eurozone average of 2.9%. Turning to…
On July 15, the international credit rating agency S&P Global Ratings raised Sofia Municipality’s long-term credit rating from “BBB” to “BBB+”, assigning it a stable outlook. The upgrade reflects the capital’s strong fiscal position and anticipates benefits stemming from Bulgaria’s anticipated accession to the eurozone. Deputy Mayor for Finance Ivan Vassilev commented on the development,…
Fitch Ratings has upgraded the long-term credit rating of the Bulgarian Development Bank (BDB) from BBB to BBB+, assigning it a stable outlook. The new rating aligns with Bulgaria’s sovereign rating, reflecting the agency’s confidence in the country’s fiscal stability following its decision to adopt the euro. The move signals strengthened trust in both the…
Bulgaria’s annual inflation rate climbed to 4.4% in June, marking its highest point since December 2023. This is up from 3.7% recorded in May, according to fresh data from the National Statistical Institute (NSI). On a monthly basis, inflation rose by 0.4%, reversing the previous months’ more modest or declining trends. The average annual inflation…
A new trend is emerging in Sofia’s real estate scene – property sales are outpacing rentals, reversing a pattern that has dominated the past decade. The observation comes from the National Real Estate Association (NRA), which brings together over 2,500 professionals committed to ethical and responsible practice. While this reversal is noteworthy, experts anticipate a…
Energy Minister Zhecho Stankov shared encouraging news for Bulgaria’s energy sector, highlighting that financial institutions were prepared to provide funding eight times greater than what was required for the construction of the Vertical Gas Corridor infrastructure. He attributed this favorable development to the positive momentum following Brussels’ announcement confirming Bulgaria’s eurozone entry starting from January…