Credit Growth Slows Down In January 14/03/2008
The total volume of the bank loans extended in Bulgaria in January 2008 amounted to 530 million leva. The figure represents a nearly six-fold decrease compared to December 2007, when the volume of the loans stood at 3.38 billion leva. The growth of the business loans is slowing down significantly. Business loans growth marked a 71.5-per cent year on year increase in December 2007. The figure dropped to 69.9 per cent in January 2008. The credit growth to the non-government sector slowed to 61.8 per cent year on year as of end-January as compared to 62.5 per cent at end-December, according to the monetary survey of the central bank. The increase in credits denominated in foreign currency also moderated to 77.5 per cent annual rise in January, down by 2 points on a monthly basis, while... more

Credit Crunch 'not Impacting On Tourism' 14/03/2008
The impact of the global credit crunch is not putting people off booking holidays abroad, new research has revealed. According to TNS Travel and Tourism, millions of leisure travellers from the UK are still preparing to make their annual trips abroad, reports Travel Weekly. This is despite people's finances being constrained by the slowdown in the worldwide economy, which has led to fears of a possible recession. Since one in five people said they plan to have more than two holidays this year, this suggests that consumers have made a trip abroad one of their financial priorities. Tom Costley of TNS commented: "This data highlights a number of trends that suggest the UK holiday market appears resilient in the face of the economic downturn." Countries along the Mediterranean... more

Investment In A Tworoom Apartment In Sofia Repays In 15 Years 14/03/2008
The purchase of a two-room apartment in Sofia pays off in about 15 years, according to Industry Watch’s calculations for the fourth quarter of 2007. Only three months before, i.e. the third quarter of last year, a similar investment paid off in 13 years and at the end of 2006 the repayment period was 10 to 11 years. Residential sale prices increase at a quicker pace than rentals, so accounting for the slowdown of returns on these investments, the think-tank comments. Rental levels cannot increase faster than the growth of average disposable income, Industry Watch analysts say, and they foresee that it will be one of the propellers for residential sale price correction. Housing will slow down its appreciation rate this year –  not forecast to exceed 15-20 per cent. The slight increase... more