Finance

During the fourth quarter of 2010, the average monthly salary in Bulgaria went up by 4.9% compared to the third quarter, to reach BGN 669.

The data was released Friday by the National Statistics Institute (NSI).

The average salary in October, November and December was BGN 650, 667 and 691 respectively.

The highest increases were registered in Education (13%), Financial Services (10%) while the salaries went down the most in Administration (1%) and the Mining Sector (0.1%). Read more abour: Average salary in Bulagria in 2011

Piraeus Bank Bulgaria cuts by half the interest rate of Miracle mortgages for the first six months of the loan and introduces one year grace period on the principal.Half Payments – For the first half year of the loan, the interest rate is fixed to 4.35% for loans in Euro and to 4.75% for loans in leva. The standard interest rate for the remaining period currently is 8.70% for Euro and 9.50% for leva. The maximum amount of the loan remains up to BGN 240 000 or the equivalent in Euro. The maximum repayment periods are one of the longest on the market – up to 30 years for leva loans and up to 25 years for Euro. Read more about: Piraeus Bank – Miracle Mortgage Loan

In November 2009 the three-month interbank market index SOFIBOR decreased from 4.84 to 4.80% compared to the previous month, whereas the value in November 2008 was 7.89%. The annual growth rate of the broad money (monetary aggregate M3) was 6.4% in November 2009 against 4.4% in October, as at the end of November M3 amounted to BGN 46.761 billion (71.4% of the projected GDP for 2009) against BGN 46.554 billion in October (71.1% of GDP). The narrow money M1 amounted to BGN 17.738 billion as it decreased by 7.8% annually against a drop of 12.3% in October. Read more about: Bulgaria Monetary & Financial indicators 2010

Bulgaria’s gross domestic product (GDP) marks downturn with 3.5% in the first quarter of this year compared to the same period of 2008, show preliminary data from the national statistics.
In the first quarter of this year the Bulgarian economy has shrank with 5% compared to the previous three months. According to the statistical data this is the second successive quarter in which the GDP marks a downturn compared to the previous three months, which means that Bulgaria can be defined as being in recession. Reag more about: Bulgaria in Recession in 2010

Like the older TARGET system, the purpose of TARGET2, is to facilitate real-time settlement of large-value payments and urgent payments, while inter-bank settlement is carried over on the accounts of banks held with the central bank. Read more about: Sixteen Bulgarian Banks have joined the new TARGET2 payment system

The interest rates in retail bank deposits ended the last year (2009) with decrease. The deposit expansion in both volume and interest rates on the Bulgarian retail market seems to have come to an end. Deposit interest rates are falling since the middle of 2009 from 8.16% in the beginning of the year to 7.5% in December (both market average for BGN deposits). The interest rates for EUR deposits are respectively dropping from 6.31% to 6.16%.

Promotion terms for the bank’s 3-, 6- and 12-month deposit products are valid by 12 February 2010 Raiffeisenbank has extended the promotional campaign on its deposits till12 February 2010. Promotional interest rates are valid for newly opened 3-, 6- and 12-month deposits in Bulgarian levs, euro and US dollars. The minimum amount for opening a […]

Bulgaria-Inside review at the current situation in Bulgaria with banks, loans, mortgages in 2009 and estimate for 2010. The Bulgarian National Bank (BNB) has already indicated that lending volumes may increase from the start of next year. Read more about: “Mortgage rates fall in Bulgaria in late 2009 / 2010“

Looking for a morgage in Bulgaria. Is your mortgage coming to an end? Check these sites to find a cheap morgage from a bank in Bulgaria. Compare competetive rates. View a selection of CHEAPREMORTGAGES in this section. This remortgage guide is for anyone who already has a mortgage deal and either wants to try to cut its expencses. Read more about: "Mortgage Guide Bulgaria"

Five of the fifteen leading local-currency mortgage lenders in Bulgaria have revised their mortgage loan terms. Only Municipal Bank cut by the price of its most popular mortgage loan by two basis points after the central bank lowered its benchmark rate. Read more about: "Mortgage rates in Bulgaria hit new highs in September 2009"