Bulgaria Reduced its National Debt to 24%
The ministry of finance arranged a payment of more than EUR 990 million to holders of five year Bulgarian Euro bonds, issued at an annual coupon of 4.25% on 9 July 2017.
The transaction included a tranche of 7-year bonds worth 1.144 billion euros at an interest coupon of 1.875% and a tranche of 12-year bonds worth EUR 850 million at a 3% interest coupon.
By making the payment, Bulgaria's sovereign debt was reduced by EUR 950 million, from 12,884 to 11,934 billion euros. This represents a decrease in the ratio of debt to gross domestic product by almost two percentage points, respectively, from 25.9% to 24%. Thus, the state budget will save debt servicing costs amounting to EUR 40.375 million per year, the Ministry of Finance said.
- » Bitcoin Hits New Record High, Breaking $8,000 For the First Time
- » Bitcoin Hit an All-Time High Just Below $8,000
- » Proposal: BGN 510 Min Salary From January
- » The CPC Fined the Bulgarian Stock Exchange with 1775 BGN for Unfair Competition
- » Bulgaria's GDP Growth Accelerates to 3.9% in Q3 2017
- » 0.6% Monthly Inflation For October 2017