The EC adopted a report that put Bulgaria under an excessive budget deficit procedure as its general budget deficit reached 3.9% of GDP last year, exceeding the 3% benchmark. The Commission stated, however, that the excess could be qualified as exceptional, as it resulted from a severe economic downturn. It was also seen as temporary as the deficit forecast was below 3% of GDP this year though there are some risks to the outcome. |
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The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more
Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more
Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more