Bulgaria had the EU's third-lowest debt and a 2.8% budget deficit in end-2014 but quality of data the country is sending is met with reservations, according to the bloc's statistical body Eurostat.

It points that Bulgaria's debt was 27.6% of GDP at the time (with only Estonia, 10.6%, and Luxembourg, 23.6%, having a more positive indicator).

But as for deficit, Eurostat "is expressing a reservation on the quality of the data reported by Bulgaria in relation to the sector classification of the Deposit Insurance Fund and the impact of the government deficit of the fund's repayment of the guaranteed deposits (BGN 3.7 B) in the Corporate Commercial Bank [Corpbank or KTB]."

"The impact of the transaction will be assessed by Eurostat in cooperation with the Bulgarian statistical authorities during the coming months," the agency's statement reads further, forecasting "this will most likely result in an increase of the government deficit".

The country paid billions in deposits to asset holders at KTB in the past months, after its fourth-largest lender collapsed last June.

Bulgaria's debt is estimated at BGN 19.34 B (23.6% of GDP) in Q3 of last year and BGN 22.694 B (27.6%) over the next quarter.

In Q4, 2014 as many as 16 member states saw an increase in GDP-to-debt ratio, with Bulgaria recording the highest one (4%) followed by Austria (3.7%) and Sweden (3.5%).

The Bulgarian GDP was at BGN 82.164 B in 2014, according to the statistical agency.

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