Bulgaria's Eurozone Aspirations: Fitch Ratings Affirms Positive Outlook
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
Bulgaria’s government debt totalled EUR 13.34 B in nominal terms at of end-April 2016, the Finance Ministry announced on Tuesday.
Compared with end-March 2016, total government debt was EUR 9.5 M lower at the end of April.
Compared with end-2015, however, total government debt was almost EUR 1.73 B higher in nominal terms at the end of April after the government issued a EUR 1.994 B dual-tranche bond on international capital markets on March 14.
The bond issue had increased the government’s foreign debt, which totalled EUR 9.85 B as of end-April, compared with 9.86 B a month earlier. Domestic debt totalled EUR 3.49 M at the end of April, unchanged from end-March but lower compared with EUR 3.72 B at the end of 2015.
Government debt-to-GDP ratio was 29.2% at the end of April, as per the updated spring macroeconomic forecast of the Finance Ministry of Finance for 2016. The ratio was a touch lower compared with 29.3% a month earlier but higher than 26.4% at the end of last year.
Eurobonds issued in international capital markets kept their largest share (56.9%) in the structure of Bulgaria's government debt by instrument, followed by domestic government securities (26.1%) and loans (17.0%), the Finance Ministry said in a monthly debt report.
Government debt payments for the first four months of 2016 totalled BGN 1.23 B (EUR 627 M), of which BGN 920 M principal payments and BGN 310 M interest.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022