BULGARIAN ECONOMY
Fitch ratings affirms Bulgaria’s long-term foreign and local currency Issuer Default Rating at ‘BBB-/BBB’; outlook stable
Fitch Ratings has affirmed Bulgaria's Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB-' and its local currency IDR at ‘BBB‘, with stable outlook. The Short-term foreign currency IDR has been affirmed at ‘F3' and the Country Ceiling at ‘BBB+'. The affirmation of Bulgaria's sovereign ratings reflects Bulgaria's strong fiscal position and the Stable Outlook reflects Fitch's assessment that upside and downside risks to the rating are currently balanced. According to Fitch, strong public finances are the key underpinning for Bulgaria's investment-grade rating.
The report also states that the Bulgarian sovereign possesses significant buffers in the form of a Fiscal Reserve Account equivalent to 6.3% of GDP at end-November 2013, and foreign-exchange reserves (FXR) worth 3x base money (M0). Fitch forecasts that the GGD will be little changed in 2014 from an estimated 1.8% of GDP in 2013, before falling slightly in 2015.
You can find the full text of the agency's press release HERE.
NEWS FROM BCCI
Regular meeting of the EU Club with BCCI on the occasion of the assumed by Greece rotating presidency to the EU Council
Members of the EU Club are diplomats, representatives of the business, media etc.
MoreThe BCCI Survey on the intended business trips for 2014
Bulgarian businesses aim mostly to Germany, Russia and Turkey for conducting their business trips
MoreRepresentatives of the World Bank discussed with BCCI the possibilities of improving the business environment
The Bank is interested in the Chamber’s opinion about the social and economic processes in our country
More
UPCOMING EVENTS
Business to Business and Technology Transfer Meetings - IndustryMatchMaking 2014
Inter Expo Center, Sofia, 6th March 2014
More
TENDERS & OFFERS
The company Gabinvest (an affiliate of L&O HUNTING GROUP GmbH) announces offer
BULGARIAN ECONOMY
Fitch ratings affirms Bulgaria’s long-term foreign and local currency Issuer Default Rating at ‘BBB-/BBB’; outlook stable
The report states that the Bulgarian sovereign possesses significant buffers in the form of a Fiscal Reserve Account equivalent to 6.3% of GDP
MoreStabilization and diversification are the key priorities in the energy sector in 2014
The Strategic energy projects that the country is working now, will continue to develop in 2014
MoreBulgaria’s average unemployment rate in 2013 is 11.3%
The National Employment Agency reports stabilization of the labor market
MoreThe monthly inflation in December 2013 was 0.3%
The annual inflation in December 2013 compared to December 2012 was -1.6%
More
INVESTMENT NEWS
BGN 1.2 bln projects in Bulgaria’s car manufacturing sector
They will open at least 8,500 new jobs
MoreNexans Autoelectric opens 600 new jobs in Pleven
The company will set up a modern assembly facility
More
