Fitch confirmed Bulgaria's Long-Term Credit Rating in Foreign and Local Currency

The international rating agency Fitch confirmed the long-term credit rating of Bulgaria in foreign and local currency 'BBB' with a positive outlook.

The rating is supported by the country's strong external and fiscal position compared to countries with the same rating. Another factor is the reliable political framework of EU membership and the long-standing functioning of the currency board regime. On the other hand, the low share of investment and unfavorable demographic factors weigh on the potential for economic growth and public finances in the long term.

The positive outlook also reflects plans for Eurozone membership. As for the rate of inflation, in Bulgaria it follows a downward trend, but remains significantly above that of other EU member states with the lowest inflation and currently does not meet the price stability criterion. The budget deficit is expected to be 2.8% in 2024 and 3.5% of GDP in 2025.

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