March 11th, 2010
Real estate agency firm Elta Consult claims that the global economic downturn will have a positive effect on the Bulgarian market in 2010, a company media statement said on March 3 2010. The firm predicts that prospective buyers of a flat or a second home in Bulgaria will benefit from the ...Read more »
March 10th, 2010
The International Monetary Fund expects Bulgaria’s economy to grow 0.2 percent this year as a global recovery boosts exports demand in the European Union. The Washington-based projects this year’s inflation at 2.2 percent, the budget deficit at 1.9 of gross domestic product and the current-account gap 5.5 percent, Bas Bakker, the ...Read more »
March 9th, 2010
The International Monetary Fund (IMF) said on March 1 that Bulgaria was likely to miss the Government target for Budget deficit in 2010. An IMF mission completed a regular Article IV review of Bulgaria's economy on March 1. The mission's head, Bas Bakker, told reporters in Sofia that the Fund forecast ...Read more »
March 8th, 2010
Bulgaria’s economy will worsen even further in the next 12 months, more than half of those polled in a Gallup International opinion survey said, according to media reports on March 1 2010. The poll is the latest in a series of separate surveys exposing worries about a worsening economy, job ...Read more »
March 5th, 2010
British investors who spent millions of pounds on flats in a Bulgarian ski resort have accused a local property firm of illegally taking possession of the building and denying them entry. About 70 families paid more than £6million for the apartments two years ago but have still not yet been ...Read more »
March 4th, 2010
Fitch global rating agency downgraded Greece's four largest banks to 'BBB' with negative prognosis, with the agency saying that the imposition of a restrictive financial policy by the Greek government could have a negative effect on loans and possible incomes, the BBC said. Fitch reduced to BBB/F3 from BBB+/F2 the ...Read more »
March 3rd, 2010
The Greek financial turmoil could postpone admission of emerging European countries into the eurozone, according to a poll by Reuters among 44 leading analysts. Bulgaria, the Czech Republic and Poland could adopt the single currency in 2015, with Estonia standing the best chances, expected to lead the pack in 2011. In autumn ...Read more »
March 2nd, 2010
Permits for real estate construction in Bulgaria were down by 45 per cent in the fourth quarter of 2009, totalling 69.9 per cent fewer apartments compared to the third quarter, Dnevnik daily reported on February 22. Permits for construction of administrative buildings were down by 37 per cent. In the last quarter ...Read more »
March 1st, 2010
Bulgaria's property market went from being one of the best performing in Europe to one of the worst performing. A year of stagnation is now likely. For several years the country was an investors' darling, drawing in a glut of investment. With the economy averaging 6.1% growth between 2003 and ...Read more »
February 26th, 2010
Bulgaria's jobless rate rose to 9.9 percent in January from 9.1 percent the previous month, as the emerging economy struggles with a deepening recession, data from the labour ministry showed on Friday. The unemployment rate was 6.5 percent in January last year. Bulgaria, like other countries in eastern Europe, has been ...Read more »
