Ministry of Finance: Fitch Optimistic about Bulgaria

Ministry of Finance: Fitch Optimistic about Bulgaria

Fitch confirmed its credit rating for Bulgaria and characterized the situation in the country as "stable", announced the Bulgarian Ministry of Finance Thursday.

Fitch Ratings themselves report that Bulgaria's rating stays at F3 for short-term foreign currency, BBB- for long-term foreign currency, and BBB for long-term local currency.

The outlook for the long-term rating of Bulgaria nevertheless also stays "Negative."

Among the main causes Fitch sees for the stability in Bulgaria's rating is the stability in public finances, as well as the political stability of the country and the low level of sovereign debt.

It also praises the budget reserve accumulated by the previous (tripartite coalition) government, but criticizes boosted spending near the end of its term in the first half of 2009.

The upping of exports and the growth of their market share is pointed out as a signal of hope; the level of human development and the business climate are characterized as favorable.

On the downside, Fitch points out a 9.5% increase in unserviced credits, which is expected to rise still.

Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.