The global credit rating agency Fitch Ratings raised from stable to positive the outlook over Bulgaria's Long-Term Foreign-Currency and Local-Currency credit rating. The country's BBB rating was affirmed. This was announced by the Ministry of Finance's press centre.
Bulgaria is among the few countries in which there is growth in consumption and rising incomes during the coronavirus crisis. This was stated by Minister of Economy Lachezar Borisov during the virtual Economist event entitled EU Recovery and Resilience Fund for Bulgaria's Transition: Innovation - Green Agenda - Digital Transformation. Bulgaria's public debt is among the lowest, the budget deficit for 2020 is 3%, and the unemployment rate in the country is 5% according to data by the National Statistical Institute and 7% according to data by the Employment Agency, he added.
The Executive Board of the International Monetary Fund (IMF) has praised Bulgaria for its fiscal policy response and budget for this year. According to the IMF directors, the country's 2021 spending plans maintain support for the economy and strengthen social benefits (See here).
The main tasks that the Bulgarian government has to undertake are related to fulfilling the Roadmap commitments resulting from the Bulgarian lev's entry into ERM II, which took effect on 10 July 2020. This is what Minister of Finance Kiril Ananiev said in an interview he gave at the annual Euromoney forum for Central and Eastern Europe, the Ministry of Finance announced on its website. According to him, a National Plan to Adopt the Euro in Bulgaria is being drafted.
We have launched a procedure for searching an opportunity to build a new nuclear power facility on No 2 site of Kozloduy Nuclear Power Plant (NPP). This was posted by PM Boyko Borissov on his Facebook page after the Council of Ministers’ Meeting. The reason was the decision of the cabinet to give a mandate to the Bulgarian Energy Holding to study the possibility for construction of unit 7 of the NPP as well as to negotiate with US companies.
With the implementation of Balkan Stream, Bulgaria turns into a regional strategic gas distribution centre and guarantees diversification of natural gas supplies. The project is entering its final phase. This was posted by Prime Minister Boyko Borissov on Facebook. Before that, he inspected the construction site of Balkan Stream from air, via a government helicopter.
Bulgaria’s transport ministry signed on Wednesday a deal with a consortium led by asset manager Meridiam to run and operate Sofia Airport, the Balkan country’s main air transport hub, for 35 years, the government said.
Bulgarian Prime Minister Boyko Borissov and Serbia’s President Aleksandar Vucic inspected the Balkan Stream gas pipeline in its Letnitsa section on Monday. “What I know is that there are no wars where there are gas pipelines,” PM Borissov said. He underscored the fact that Balkan Stream is planned to transit natural gas from different sources, which will contribute to diversifying supplies for the region.
Bulgaria may enter ERM II, the so-called “waiting room of the Eurozone”, in July as long as it meets one last condition, Valdis Dombrovskis, Executive Vice-President of the European Commission, told Bulgarian National Radio.