Bulgaria's Debt Was EU's Second-Lowest in 2013
The debt of Bulgaria amounted to BGN 14.733 B last year, as the latest statistics show.
The account deficit in 2013 was BGN 1.178 B, or 1.5% of the country's economy, according to data by the National Statistical Institute (NSI) cited by Expert.bg and confirmed by Eurostat.
NSI numbers also show that have been accumulated in the budget's Central Governance (BGN 1.42 B) and Insurance Funds (BGN 81 M) subsectors, whereas the Local Governance subsector has registered a surplus of BGN 327 M.
According to the fresh data, Bulgaria ranked as the EU country with the second-lowest GDP in 2013, lagging only behind Estonia, which had a debt amounting to 10% the size of its economy.
The country was also among those with lowest current account deficit. Luxemburg, on the other hand, was the only state with a budget surplus.
- » World Bank Approves 2017-2022 Partnership Framework for Bulgaria
- » Assets Managed by Investment Funds in Bulgaria Grow 2.6% Y/Y in March
- » FDI in Bulgaria Drops 37% Y/Y in Q1 2016
- » Bulgaria to Grant 35-Year Concession on Sofia Airport
- » Bulgarian Household Income Rises 4.2% Y/Yin Q1, Expenditure up 0.9%
- » Bulgaria’s Govt to Discuss Granting Concession on Sofia Airport
Having the second lowest debt does not necessarily lead to riches and prosperity. Money is a tool and an instrument which is the lifeblood of development and prosperity when used properly. Bulgaria should spend some money on projects in order to stimulate the stagnated economy and create jobs. Projects like the New Nuclear PP should've been developed. Many countries are investing heavily in nuclear energy including China.
Trade should be directed in the right markets also, focus on Asia and the emerging markets. Look at Obama for example he is in Japan on Asian trip and etc.
Stimulate the economy and focus on Asia.