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Personal assets and housing market in Q3 2010
Industry Watch distributed among its subscribers the quarterly report "Personal Assets in Bulgaria: Financial Wealth and Housing Market". Here are the highlights of the report.
In the last month fears of the emergence of a new fiscal crisis in Portugal, Spain, Italy and other indebted countries have intensified...
Open budget initiative 2010: International index of budget transparency
Bulgaria reported small decline in the budget transparency and is still far from the best examples for budget transparency in the world, according to the announced on Oct. 20th Open Budget Initiative 2010.
By one percentage point - from 57% to 56% declined the budget transparency in Bulgaria. Accordingly, Bulgaria is not among ...
Interest rates on the interbank market in Bulgaria and Europe
Interest rates on the interbank market in Bulgaria have been recently a subject of discussion. It is therefore useful to determine 1) whether interest rates in Bulgaria are indeed higher compared to other European countries and 2) is there a difference between interest rates on short-term and long-term loans.
In the short-term ...
Personal Assets in Bulgaria and the Housing Market in Q2 2010
Household financial wealth continued to increase, exceeding BGN 37 billion as of end-June 2010. The growth rate of the personal assets of Bulgarians accelerated again to over 10% annually.
Total household indebtedness to banks, leasing companies and specialized credit companies fell by 3% annually. Increased savings in combin...
Euro inflation measured by commodity prices
Commodity prices, measured in euro, soared by 29% in the year to August 2010. Industrial commodities - metals and non-food agricultural produce - appreciated by some 35% for the period. Price of oil rose too, though more modestly, by 12.6%. Gold price jumped by 47% for 12 months, even quicker than industrial prices, main reason ...
Subprime lending contracts tangibly in Q1 2010
Assets of fast-loan companies decreased by some BGN 480 million or 15% in a year. Non-performing loans picked up – from 10% of total credit as of end-March 2009 to 15% a year later. More than 80% of the credit is extended to households, either for consumer or house purchases. About 12% of the total credit is short-term a...
Car sales and retail trade during recession
Meanwhile, the slowdown of economic activity is visible not only from the decline of durables’ sales but also from the contraction of retail trade in general. The turnover of retail trade, excluding cars and motorcycles, fell by 9% y-o-y. However, food sales decreased only marginally, as food has low demand income elasticity. On...
Personal assets in Bulgaria, Q1 2010
Under rising uncertainty about employment and income in the context of the still high real interest rate on deposits the saving rate in Bulgaria reached 20% of GDP by the end of 2009, compared with 16% in 2008. Bulgarians have 59 thousand deposits in banks, in excess of 50 000 leva, as their total sum amounted to 6.9 billion (or...