Bulgaria’s fiscal reserve increased by 31% y/y to BGN7.94bn (€4.06bn) at end-February, after rising by 7.6% y/y at end-January, data from the ministry of finance showed. In monthly comparison terms, the fiscal reserve increased by 11.4% at end-February, after dropping by 22.3% at end-January.
The fiscal reserve deposits went up 36.4% y/y to BGN5.68bn at the end of the second month of 2015. Deposits at the central bank rose by 21.7% y/y to BGN4.46bn. Deposits at commercial banks soared 2.4 times y/y to BGN1.22bn at end-February.
In addition, receivables from EU funds for certified expenditures, advances and others grew by 19% y/y to BGN2.26bn at end-February.
Fiscal Reserve, BGNmn | |||||
Feb'14 | Jan'15 | Feb'15 | % y/y | % m/m | |
Deposits at the c-bank | 3,662.8 | 4,557.5 | 4,457.7 | 21.7% | -2.2% |
Deposits at commercial banks | 499.5 | 1,250.7 | 1,221.5 | 144.5% | -2.3% |
Receivables from EU funds | 1,898.7 | 1,321.3 | 2,260.7 | 19.1% | 71.1% |
TOTAL Fiscal Reserve | 6,061.0 | 7,129.5 | 7,939.9 | 31.0% | 11.4% |
Source: Ministry of finance |
Russia’s second-largest bank state-controlled VTB posted a 33% year-on-year decline in net IFRS profit to RUB61.3bn, according to a report by the bank. VTB still plans ... more
Fitch Ratings has issued a note highlighting “tangible” progress in the past four years in the reform of Uzbekistan's ... more
The European Bank for Reconstruction and Development (EBRD) has allocated a €75mn for risk-sharing facility to Privredna banka Zagreb (PBZ), a part of the Intesa Sanpaolo Group, as part of a new ... more