Bulgaria's Eurozone Aspirations: Fitch Ratings Affirms Positive Outlook
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
According to the National Statistical Institute, the overall business climate indicator in March 2024 remains stable compared to February, hovering around 23%. While there was a boost in the indicator within the retail trade and service sector, there was a decline noted in the industry and construction sectors.
The composite indicator for the "business climate in the industry" dips by 0.5 percentage points, sliding from 24.0% to 23.5%. This decline is attributed to pessimistic assessments from industrial entrepreneurs regarding current business conditions.
The primary challenges facing businesses persist, with 45.1% citing the uncertain economic environment and 36.2% noting labor shortages. Regarding pricing in the industry, most managers anticipate stability over the next three months.
In March, the composite indicator for the construction business climate fell by 1.7 percentage points, from 27.2% to 25.5%, reflecting cautious assessments and expectations among construction entrepreneurs regarding business conditions.
In contrast, the retail trade sector has a positive upswing, with its composite indicator climbing by 1.2 percentage points to reach 26.1%. Optimistic assessments and expectations underscore a potential upturn in business conditions. The composite indicator for the retail trade business climate rose by 1.2 percentage points, from 24.9% to 26.1%, driven by optimistic assessments and expectations from retailers regarding enterprise performance.
Similarly, in March, the composite indicator for the service sector business climate surged by 3.6 percentage points, climbing from 12.9% to 16.5%. This increase is primarily attributed to enhanced managerial expectations concerning enterprise conditions over the next six months. Additionally, their projections regarding service demand for the next three months are positive.
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Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Along the Southern Black Sea coast, preparations are in full swing for a successful and peaceful summer season, as confirmed by Minister of Tourism Evtim Miloshev following discussions with local authorities and control institutions
As summer approaches, Bulgaria's seaside tourism industry faces a daunting challenge as hotels may remain shuttered due to a severe shortage of staff
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
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