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Bulgaria's Public Debt Sees Significant Increase in July
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Bulgaria's public debt at the end of July 2014 amounted to EUR 9.4242B, according to data revealed by the Ministry of Finance.
In just a month, Bulgarian government debt has increased by almost EUR 1.31B. The main reason for the growth is the issuance of eurobonds at the international capital markets, the Financial Ministry report showed.
The internal debt in July amounted to EUR 3.9253B which is a decrease compared to the EUR 4.1292B debt in June, while the external debt amounted to EUR 5.4989B (an increase compared to the EUR 3.9867B debt at the end of June), Bulgaria's National Radio informed.
According to the Ministry of Finance, at the end of the reporting period (end of July) the public debt amounted to 22.8% of the gross domestic product (GDP) of the country (compared to 19.7% in June). The share of the external debt is 13.3% (9.7% at the end of June) and the internal debt was 9.5% of the GDP (10% in the previous month).
According to this important financial parameter, Bulgaria still remains at the bottom of the 'negative' public debt rating in the entire European Union and is far below the European debt limit of under 60% of the GDP.
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