Minimum pension goes up
A government draft, published for public discussion, foresees that from July 1st the old age pension will increase to 307 levs from the current 276 levs.
The proposed increase is 11%, and the proposal is linked to the recent update which uses as a benchmark the period before 31 December 2023.
The decision to do so was made by the Supervisory Board of the National Insurance Institute, with funding provided for in the Law on the State Social Insurance Budget for 2024.
New IPO on BEAM
The second IPO of the Bulgarian stock exchange for 2024 has been announced. After the insurance fintech Boleron raised 3 million levs through BEAM in February, on June 12 the digital payments company Paysera Bulgaria will try to raise 2 million levs again through the growth platform for small and medium-sized enterprises.
The funds collected will be used for several purposes. The main goal is to meet the capital requirements from the Bulgarian National Bank for obtaining a local license as an electronic money company. In addition, Paysera Bulgaria plans to create a collective financing company with a focus on mortgage lending.
Government bonds more profitable
The caretaker cabinet managed to acquire another 300 million levs at the government securities auction held on Monday, but with declining investor interest and higher profitability.
The results of the auction conducted by the BNB show that the three-year bonds were placed at a weighted average yield of 3.21%, while only a month earlier at the first offering of the same issue it was 3.01%. But perhaps more importantly, the submitted orders were for only 357 million levs, which gives a coverage ratio of only 1.19, while in the previous two auctions, demand more than twice exceeded supply.
Minimum pension goes up
A government draft, published for public discussion, foresees that from July 1st the old age pension will increase to 307 levs from the current 276 levs.