In the coming two months the company “Kozloduy NPP – New Powers” is set to finalize an engineering contract with a consortium comprised of South Korea’s Hyundai Engineering and Construction and the American firm Westinghouse Electric Company. This announcement was made by Acting Minister of Energy Vladimir Malinov, who is currently in Seoul meeting with…
As of the end of July, Bulgarian banks reported a profit of 2.1 billion leva (around 1 billion euros), marking an increase of 115 million leva compared to the same period in 2023. This represents a 5.7% rise from the first seven months of the previous year, according to data from the Bulgarian National Bank…
The recent record in gold prices has sparked discussions among financial analysts about its implications for the economy. Analysts suggest that this trend could signal an economic slowdown, potentially leading to reduced interest rates by the end of the year. They expect gold prices to continue rising, which has raised questions about whether this trend…
In Bulgaria, there has been a significant rise in the use of quick loans, a trend driven by several factors. According to Bogomil Nikolov, chairman of the “Active Users” Association, the country’s banking system has created a niche for these types of loans due to the cumbersome procedures involved in traditional bank loans, particularly for…
According to data from the National Statistical Institute, food represents the largest share of expenses for Bulgarian tourists, both domestically and internationally. For trips within Bulgaria, more than 40% of the travel budget is allocated to food, while this figure is 34.3% for travel abroad. This information covers the months of April, May and June,…
Interest rates on existing mortgage loans in Bulgaria are beginning to rise, according to a check by BNR based on recent data. Although these instances are currently isolated and do not yet impact overall statistics, they signal a trend that experts have anticipated for some time. The increase in interest rates is more pronounced for…
The ice cream industry in Bulgaria is facing a significant decline, with production dropping by between 60% and 70% over the past six years. Eurostat data revealed that in 2018 Bulgaria produced 29.6 million liters of ice cream, marking the highest output ever. However, production fell to 19 million liters in 2020, further decreasing to…