Bulgaria’s Gross Foreign Debt Falls 11% Y/Y in October

Business » FINANCE | December 23, 2015, Wednesday // 16:16
Bulgaria: Bulgaria’s Gross Foreign Debt Falls 11% Y/Y in October

Bulgaria’s gross foreign debt decreased by 11% on the year in October, reaching EUR 34.3B according to preliminary data, the country’s central bank said on Wednesday.

The gross foreign debt figure at the end of October was equivalent to 79.7% of 2015 GDP forecast by the Bulgarian National Bank (BNB).

Compared with end-2014, Bulgaria’s gross foreign debt was 12.8% lower at the end of October 2015.    

Long-term foreign debt totalled EUR 26.5B at the end of October 2015, down 9.7% from end-2014 and end-October 2014.

Short-term dent totalled EUR 7.8B at end-October 2015, decreasing by 21.9% from end-2014 and declining by 15.4% from October 2014.

General government’s gross foreign debt totalled EUR 5.6B at the end of October 2015, decreasing by 6.4% from end-2014. Compared with end-October 2014, general government’s gross foreign debt increased by EUR 728M, or 14.8%.

Net foreign debt, which is equal to gross foreign debt less gross foreign assets in debt instruments, totalled EUR 6.9B at end-October 2015, down 49.6% from end-2014. The decrease was due to the drop in gross foreign debt by 12.8% and an increase in gross foreign assets by 7%.

As a percentage of GDP, net foreign debt was equal to 16.1% at end-October 2015, down by 16.1 percentage points from end-2014, the BNB said.

 

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Tags: Bulgaria, foreign debt, GDP, BNB

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