FINANCE
Standard & Poor's affirms credit ratings on Bulgaria
S&P Global Ratings affirmed its long- and short-term foreign and local currency sovereign credit ratings on Bulgaria at 'BBB-/A-3'. The outlook remains positive.
According to the S&P assessment, Bulgaria’s fiscal and external positions remain strong and the country’s economic growth outlook is estimated as favourable, despite the expected structural constraints over the longer term. The positive rating outlook reflects S&P’s view that Bulgaria is likely to join the European Exchange Rate Mechanism II (ERM II) in the next 12 months.
The agency expects resilient economic growth of 3.3% in 2019, and afterwards the growth rates will moderate to 3% in 2022. This will be mainly driven by private consumption and government investment. The agency projects a rebound in exports despite its expectation of lower external demand in 2019 because of the economic slowdown in Bulgaria's key European trading partners.
According to S&P, Bulgaria has made significant progress in fulfilling its commitments for ERM II accession, with most either completed or in progress according to the government's action plan.
The agency could raise the ratings on Bulgaria if the country enters ERM II. Progress in addressing remaining structural and institutional impediments could also support the ratings.
S&P could revise the outlook to stable if pressures on country's balance of payments or financial sector emerged, for example due to a buildup of macroeconomic imbalances. A revision of the outlook from positive to stable is possible if the progress toward eurozone membership is stalled for a prolonged period.
You can read the full text of the S&P Global Ratings press release here.
Standard&Poor's affirms Bulgaria's Credit Rating, Outlook is positive
S&P Global Ratings affirmed its long- and short-term foreign and local currency sovereign credit ratings on Bulgaria at 'BBB-/A-3'. The outlook remains positive.
According to the S&P assessment, Bulgaria’s fiscal and external positions remain strong and the country’s economic growth outlook is estimated as favourable, despite the expected structural constraints over the longer term. The positive rating outlook reflects S&P’s view that Bulgaria is likely to join the European Exchange Rate Mechanism II (ERM II) in the next 12 months.
The agency expects resilient economic growth of 3.3% in 2019, and afterwards the growth rates will moderate to 3% in 2022. This will be mainly driven by private consumption and government investment. The agency projects a rebound in exports despite its expectation of lower external demand in 2019 because of the economic slowdown in Bulgaria's key European trading partners.
According to S&P, Bulgaria has made significant progress in fulfilling its commitments for ERM II accession, with most either completed or in progress according to the government's action plan.
The agency could raise the ratings on Bulgaria if the country enters ERM II. Progress in addressing remaining structural and institutional impediments could also support the ratings.
S&P could revise the outlook to stable if pressures on country's balance of payments or financial sector emerged, for example due to a buildup of macroeconomic imbalances. A revision of the outlook from positive to stable is possible if the progress toward eurozone membership is stalled for a prolonged period.
You can read the full text of the S&P Global Ratings press release here.
NEWS FROM BCCI
On 4 June a regular General Assembly of the Bulgarian Chamber of Commerce and Industry was held
Tsvetan Simeonov was re-elected as President of the Board of Directors
ОщеBulgarian delegation took part in the Three Seas Initiative Business Forum in Ljubljana
A number of international and national projects for greater regional transport, digital and energy connectivity were discussed
ОщеMeeting with the newly-appointed Ambassador of Bulgaria to Ireland
Irish investments in Bulgaria are mainly in the field of real estate, hotels and restaurants, financial intermediation
Още
INVESTMENT NEWS
New investor puts EUR 14 million in warehouse and production facilities in Bulgaria's Trakia Economic Zone
The investment will take place in two stages
ОщеWith nearly BGN 4 million investment, Volvo Group Bulgaria opened its own service center near Plovdiv
A part of the overall strategy of the company for sustainable development of the service network in the country
Още
BULGARIAN ECONOMY
The GDP growth rate in the first quarter of 2019 is 3.5%
Bulgaria is among the EU champions for GDP growth
Още
ENERGY AND ENERGY EFFICIENCY
First American liquefied gas for Bulgaria
First step towards diversifying supplies
Още
PROGRAMMES & PROJECTS
Operational Programme "Environment" provides additional funds for the sectors "Air" and "Waste"
The Monitoring Committee approved the assessment criteria for a new procedure
Още
FINANCE
Standard & Poor's affirms credit ratings on Bulgaria
The outlook remains positive
Още
Standard&Poor's affirms Bulgaria's Credit Rating, Outlook is positive
S&P Global Ratings affirmed its long- and short-term foreign and local currency sovereign credit ratings on Bulgaria at 'BBB-/A-3'. The outlook remains positive.
According to the S&P assessment, Bulgaria’s fiscal and external positions remain strong and the country’s economic growth outlook is estimated as favourable, despite the expected structural constraints over the longer term. The positive rating outlook reflects S&P’s view that Bulgaria is likely to join the European Exchange Rate Mechanism II (ERM II) in the next 12 months.
The agency expects resilient economic growth of 3.3% in 2019, and afterwards the growth rates will moderate to 3% in 2022. This will be mainly driven by private consumption and government investment. The agency projects a rebound in exports despite its expectation of lower external demand in 2019 because of the economic slowdown in Bulgaria's key European trading partners.
According to S&P, Bulgaria has made significant progress in fulfilling its commitments for ERM II accession, with most either completed or in progress according to the government's action plan.
The agency could raise the ratings on Bulgaria if the country enters ERM II. Progress in addressing remaining structural and institutional impediments could also support the ratings.
S&P could revise the outlook to stable if pressures on country's balance of payments or financial sector emerged, for example due to a buildup of macroeconomic imbalances. A revision of the outlook from positive to stable is possible if the progress toward eurozone membership is stalled for a prolonged period.
You can read the full text of the S&P Global Ratings press release here.