Banking in the Bulgarian economy

by Jeffrey B. Miller

Publisher: Bulgarian National Bank in Sofia

Written in English
Published: Pages: 95 Downloads: 410
Share This

Places:

  • Bulgaria.

Subjects:

  • Banks and banking -- Bulgaria.

Edition Notes

Includes bibliographical references (p. 94-95).

StatementJeffrey B. Miller, Stefan Petranov.
ContributionsPetranov, S.
Classifications
LC ClassificationsHG3224 .M548 1996
The Physical Object
Pagination95 p. ;
Number of Pages95
ID Numbers
Open LibraryOL595021M
LC Control Number96187101

Although we expect the Bulgarian National Bank to take further measures, none of them has been made publicly known. Lastly, additional oversight of the system is expected following the completion of a scheduled review of the sector by the IMF and the World Bank, which may lead to additional changes in the banking supervision in Bulgaria. Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years. How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Bulgaria’s Exports rank is higher than (please wait) of the countries in the dataset. For Exports, FDI and GDP measures, a higher. pact on the balance sheets of Bulgarian banks. their crediting activity is mostly tar-geted to the Bulgarian economy and banks remained uninvolved in speculations with American financial instruments. Yet, there are reasons to be worried because over 90% of the Bulgarian banks are foreign-owned. The five major banks are the Ital-.   The First Bank Runs. The first of four separate banking panics began in the fall of , when a bank run in Nashville, Tennessee, kicked off a wave of similar incidents throughout the Southeast Missing: Bulgarian economy.

  Economic Overview. Bulgaria, a former communist country that entered the EU in , has an open economy that historically has demonstrated strong growth, but its per-capita income remains the lowest among EU members and its reliance on energy imports and foreign demand for its exports makes its growth sensitive to external market conditions.   Bulgaria’s banking system appeared to be stabilising late on Monday after the EU approved a Levbn (€bn) emergency credit line from the central bank, following runs on two of the country Author: Kerin Hope. In the credit risk continued to determine the trends in the balance sheets of the 27 th credit institutions, operating on the market, as well as their behavior. Overall, the challenges, which the Bulgarian banks are facing, like their European and world competitors, are related to internal and external political uncertainty, volatility on the markets, decreasing interest margins and the.   Transition economies: The case of Bulgaria Abstract: Nowadays Bulgaria is known as a former communist country that went through a transition period to a free-market economy. On Novem , a day after the fall of the Berlin Wall, the Central Committee of the Bulgarian Communist Party made the decision to strip Todor Zhivkov of his power.

Bulgaria's economic development through the ages [Berov, Lyuben] on *FREE* shipping on qualifying offers. Bulgaria's economic development through the agesAuthor: Lyuben Berov. Search the world's most comprehensive index of full-text books. My libraryMissing: Bulgarian economy. Mining production in Bulgaria decreased percent in February of over the same month in the previous year. Mining Production in Bulgaria averaged percent from until , reaching an all time high of percent in November of and a record low of percent in December of This page provides - Bulgaria Mining Production- actual values, . The latest European Commission's economic forecast for Bulgaria, published on Febru projects economic growth in to fall to half its rate—from 2 percent to 1 debt is expected to double in the same period—from percent of GDP to percent. In addition, Bulgaria recorded the strongest average annual deflation in the European Union in .

Banking in the Bulgarian economy by Jeffrey B. Miller Download PDF EPUB FB2

The book describes and analyses the important issues of how Bulgarian financial institutions perform the functions required in a capitalist economy during the early years of. Banking is by far the most important sector in Bulgaria’s financial system which works on the principle of universal banking, being authorized to carry out a wide range of financial activities with both individuals and institutions (SeptemberBy Directorate General for Economic and Financial Affairs).

However, until the early s, like in other central [ ]/5(21). courses in money and banking at that time was the absence of summary materials that captured the specific detail of the Bulgarian economic sys-tem.

The first edition of this monograph sought to fill that gap. The intended audience was students of money and banking, who might use the book as a supplement to western Banking in the Bulgarian economy book on the subject.

The growth of assets in the banking sector at the end of was 6,2% on an annual basis reaching to 81 billion. The share of total assets of all 27 banks, operating in Bulgaria, to GDP increased to 99,2% as of the end of compared to 97,8% as it was at the end of The Financial System in the Bulgarian Economy.

the banking sector in the Bulgarian economy. In the early transition period and their shareholder registration books. Agriculture and tourism have been important components of Bulgarian economy. In recent years low salaries and low corporate income tax rates, attracted foreign companies into technological and research sector.

However, factors like corruption, a weak judiciary, and organized crime impede the country's investment climate and economic growth. assume slower pace of economic growth in and The forecasts vary between 2,8% and 3,2% for and 2,8% and 3,1% for the next year.

Source: NSI, Eurostat, Bulgarian National Bank, Ministry of Finance, International Monetary Fund, World Bank, European Commission, European Bank for Reconstruction and Development. According to World Economic Forum's Global Competitiveness Reportfinancial market development in Bulgaria is scored out of maximum and ranked 58th out of analysed economies, trustworthiness and confidence.

The World Bank In Bulgaria. Bulgaria has undergone a significant transformation over the past three decades. It has transformed from a highly centralized, planned economy to an open, market-based, upper-middle-income economy securely anchored in the EU.

Overview. Bulgaria has undergone a significant transformation over the past three decades. All retail banking was concentrated in the Post Credit Bank, suc-ceeded in by the State Savings Bank (SSB).

The Bulgarian In-vestment Bank existed only until when its functions were trans-ferred to the BNB and SSB.

The Bulgarian Foreign Trade Bank (BFTB) was established in and incorporated all foreign ex-File Size: KB. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App.

Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. To get the free app, enter your mobile phone number. Money, Banking, & the Economy 6th Revised by: The World Bank In Bulgaria Bulgaria has undergone a significant transformation over the past three decades.

It has transformed from a highly centralized, planned economy to an open, market-based, upper-middle-income economy securely anchored in the EU.

The most commonly used ratio to measure the size of a banking sector, namely the ratio of consolidated banking assets to gross domestic product, for Bulgaria shows that its banking sector is roughly the same size as its national economy (the ratio is %). Stability of the Bulgarian Banking Systems 64 Articles Economic Alternatives, issue 1, nificant economic decline was recorded in when the GDP went down by % compared towhereas the domestic value added decreased by % despite the sluggish revival on a global scale.

The drop in sales and incomes in the export-oriented. Bulgarian Banking Sector, April 4 Domestic banks continued to increase their market shares to 29% of the total assets, or by almost p.p. higher compared to a year earlier. The share of EU subsidiary banks maintained its downward trend, but foreign banks continued to hold more than 2/3 of local market in term of total as-sets.

After the national banking crisis of the mid-’90s, a Banking Consolidation Company was set up in to restructure and consolidate Bulgaria’s banking sector. All state-owned banks were privatised inwhen smaller commercial banks were either taken over by larger Bulgarian banks or bought out by foreign banks.

Recovering GDP Growth In Bulgaria Points To A Thriving Bulgarian Economy. Bulgaria ranks at an impressive 58th in the World’s Bank’s Ease of Doing Business report, higher than most other CEE countries. However, Bulgaria’s ranking out of countries dropped across starting a business, dealing with construction permits, getting.

Overview of the Bulgarian economy and banking system The Bulgarian economy has evolved from a long history of high inflationary periods and banking crises. Similarly to all transition economies in the SEE region, bad loans 1 were a serious problem in Bulgaria partly due to the inherited legacies but also to continuing lending practices.

The paper uses repeated cross-sections of Bulgaria's household survey data (, and ) and a comparable list of durable goods to investigate the dynamics and distribution of durable goods over time, including during the economic crisis of and the subsequent period of relatively robust economic growth leading up to European Union membership.

The paper considers the reforms in the Bulgarian banking sector during the transition period from a centrally planned to a market type economy (from onward) through the implementation of neo Author: Peter Ignatiev. THE BULGARIAN ECONOMY IN THE FOURTH QUARTER OF 7 The positive assessment of Bulgaria’s economy in the last quarter of is based on GDP’s growth and on the good development of certain economic sectors.

The quarterly results confirmed the positive trends for macro indicators such as inflation and unemployment level on an annual basis. sectors of the economy. At the same time, the 59 branches of the Bulgarian National Bank (BNB) were trans-formed into commercial banks. As thelargenumberofstate-ownedcom-mercial banks had proved to be ineffi-cient, the government created the Bank Consolidation Company (BCC) to encourage the establishment of larger operating units through merg-ers.

Bulgaria Global Economic Prospects examines trends for the world economy and how they affect developing countries. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets.

The strongest sectors in the economy are energy, mining, metallurgy, machine building, agriculture and tourism. Primary industrial exports are clothing, iron and steel, machinery and refined fuels.

Sofia is the capital and economic heart of Bulgaria and home to most major Bulgarian and international companies operating in the country, as well as the Bulgarian National Bank and the Bulgarian Country group: Developing/Emerging, Upper.

The Bulgarian economy is fairly open. Bulgaria is a net exporter of services on the back of its tourism and transportation sectors.

The banking sector is dominated by subsidiaries of EU companies, which account for around 73% of total banking assets. Around one fifth of assets are owned by Greek banks. Economic growth in Belarus is projected to be % at best in Over the period, the poverty headcount is projected to remain flat, on account of still positive, yet significantly weaker economic growth, and smaller increases in real wages.

The latest Economic Update outlines the economic situation in the country and medium-term. I don’t see a bright future in front of us. I am a computer engineer, that works as a cable technician, because I can’t find a normal job.

My profile of expertise is computer hardware and microelectronics. Many young people like me leave the coun. A new anti-graft party generates excitement.

Despite all the rhetoric, immigrants make a positive contribution to our society. Smoking rates have plummeted in many countries that have cracked down on the habit. The recent numbers on immigration pushed the issue to the top of voters' concerns.

Political instability and banking sector turbulence had a negative impact on confidence in the second half of Government finances also deteriorated considerably in This Country Report assesses Bulgaria's economy against the background of the Commission's Annual Growth Survey which recommends three.

Page last updated on Janu Economy - overview: Bulgaria, a former communist country that entered the EU inhas an open economy that historically has demonstrated strong growth, but its per-capita income remains the lowest among EU members and its reliance on energy imports and foreign demand for its exports makes its growth sensitive to external.

Shadowing the euro: Bulgaria’s monetary policy five years on Kalin Hristov and Martin Zaimov1 1. Introduction Bulgaria’s economic progress in recent years is regarded as determined by the currency board regime introduced in It seems appropriate, five .There is still a clear divide between the relative performance of the banking sectors of the northern and southern countries in the Central European region.

But both are on a visible road to improvement, enabled by growing business confidence as GDP growth accelerates (averaging % across CE inrising to % this year and to % - % in ).This article is about banks operating in the United Kingdom. For the development of the banking industry, see Banking in the United Kingdom.

The table shows the main independent British retail banks, in order of market capitalisation. The list is quite short as British banking has been highly consolidated since the early 20th century.