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 economyIt 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.