While we await the first day of the new parliament and a potential cabinet deal, let's enjoy the first snow in Sofia. Admittedly, not if you are a driver or a pedestrian, but if you've lived in the capital long enough, you are already accustomed to it.
Standard & Poor's confirms its rating for Bulgarian economy
It remains BBB/A-2 with a stable perspective. The agency believes pandemic fallout is manageable and that growth perspectives are promising because of strong consumption and the pending EU funding. S&P predicts that Bulgaria will get up to 30 billion euros over the next decade, which is the best possible scenario for EU funding, given its present delay.The agency also believes a new government is likely to be formed, although decision-making will remain hard.
PPI in Bulgaria reaches 24.1%
The production price inflation index is growing like mad in October, data shows. The main drivers of inflation are, of course, electricity, heating and gas - 47% up. Metals are also 47% up and wood is growing by 25%. The PPI index has grown by 3.8% since September, with iron ore the main driver.
Banks' profits reach 1.22 bln levs in October
This is well over 53% growth since 2020. The monthly profit is 130 million levs (75 million euros). This means banks are on their way to reaching close to their pre-crisis level of 1.67 bln levs (840 million euros) profit. Their assets are up 0.7% to 133.6 billion levs (68 billion euros), and the credits are up 1.1% to 74.5 billion levs - mainly company loans, which are 1.5% up.
While we await the first day of the new parliament and a potential cabinet deal, let's enjoy the first snow in Sofia. Admittedly, not if you are a driver or a pedestrian, but if you've lived in the capital long enough, you are already accustomed to it.
