Interest rates on loans will begin to decrease by the end of the year, and those on deposits will increase. This was predicted by bankers during a conference organized by the website investor.bg.
In Bulgaria, the trend will be felt much more slowly than in the rest of the European Union and, more specifically, the Eurozone.
The main interest rate of the European Central Bank has reached a historically high value and experts expect it to decrease from here on.
“This trend should logically meet another trend that we see in Bulgaria, how there is a slight and smooth increase in interest rates on deposits, of course much less than in the countries of the Eurozone,” said Asen Yagodin, writes BNT.
However, the granting of mortgage loans also continues for expensive properties, as this has its own explanation.
“Property prices and incomes are always related and we have a so-called serious increase in incomes in Bulgaria,” explained Iliyan Georgiev.
“Plus, a lot of money comes from abroad from people who want to buy a property – second, third, which is also already a trend,” said Svetoslav Milanov.
The bankers calculate that our country is losing money every day because we are outside the eurozone, and at the same time our currency is on board and tied to the euro. That is why trends come in more slowly with us.
“All of us are making efforts regarding our joining the Eurozone, regarding being able to say that we are already welcome there, but as our partners said – this will happen when we fulfill the relevant criteria,” commented Petar Chobanov.
The BNB still expects that it is possible to adopt the euro next year, but it is unlikely that this will happen from January 1.
