Bulgaria Has the Second Lowest Debt in the EU
Bulgaria has entered the coronavirus pandemic crisis with the second lowest percentage of debt in the EU and the third highest percentage of budget surplus. 2019 figures have been released
Eurostat and the NSI provided data which are a good starting point for us to compare the situation in our country after the end of this crisis.
In 2019, a budget surplus was recorded by Denmark (+ 3.7%), Luxembourg (+ 2.2%), Bulgaria (+ 2.1%), Cyprus and the Netherlands (+ 1.7%), Greece (+ 1.5%), Germany (+ 1.4%) ), Austria (+ 0.7%), Malta, Slovenia and Sweden (0.5% each), Ireland and Croatia (+ 0.4%), Czech Republic and Lithuania (+ 0.3%) and Portugal (+ 0.2%).
In two Member States there is a budget deficit equal to or greater than 3% of gross domestic product (GDP): France (-3.0%) and Romania (-4.3%).
According to preliminary data of the National Statistical Institute the General Government Institutional Sector reported in 2019 a surplus of 2 470 million BGN or 2.1% of GDP. The surplus in Central Government sub-sector amounted 2 349 million BGN or 2.0% of GDP. The Local Government sub-sector reported deficit of 146 million BGN and the sub-sector Social Security Funds reported surplus of 266 million BGN. The Government Debt of Bulgaria for 2019 is 24 205 million BGN or 20.4% of GDP.
Bulgaria's debt for 2019 amounts to BGN 24.205 billion, or 20.4% of GDP, according to the NSI.
Eurostat figures for the lowest levels of government debt at the end of 2019 rank Bulgaria second after Estonia, where it is only 8.4%. After Bulgaria (20.4%) are Luxembourg (22.1%), The Czech Republic (30.8%) and Denmark (33.2%).
In 2019 government spending in the euro area is equivalent to 47.1% of GDP and revenue to 46.5%. Data for the 27 EU countries are 46.7% and 46.2%, respectively.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » Bulgaria‘s Ministry of Finance Expects Deficit of BGN 183.2 Million by End November
- » Bulgaria: State Treasury in Red, Deficit Runs at BGN 183 Million
- » European Commission Nods to EUR 511 Million for Support of Bulgarian Economy
- » Bulgarian Parliament Approves Tax Relief for Families with Children
- » Bulgarian Minister of Labor: How Government Will Support People in Time of Pandemic
- » Bulgaria’s Government: Minimum Wage to Be Raised to BGN 650 As of January 2021