Bulgaria's Gross External Debt Reaches BGN 37.5 B

Business » FINANCE | August 26, 2013, Monday // 10:20
Bulgaria's Gross External Debt Reaches BGN 37.5 B: Bulgaria's Gross External Debt Reaches BGN 37.5 B Bulgaria's gross external debt has decreased by EUR 130 M (0.3%) from end-2012, file photo

Bulgaria's gross external debt has amounted to EUR 37 462.1 B (91.4% of GDP) at end-June 2013, according to data of the Central Bank, BNB.

It has decreased by EUR 130 M (0.3%) from end-2012 (EUR 37 592.1 B, 94.8% of the Gross Domestic Product, GDP).

On a year-on-year basis it increased by EUR 464.7 M, or 1.3% (from EUR 36 997.4 N).

The long-term liabilities totaled EUR 27 159.4 B (72.5% of the total debt, 66.2% of GDP) at end-June 2013, dropping by EUR 2.7 B (0.01%) from end-2012 (EUR 27 162 M), and growing by EUR 144.5 M (0.5%) year-on-year.

The short-term liabilities equaled EUR 10 302.8 B (27.5% of the total debt, 25.1% of GDP), down by EUR 127.3 M (1.2%) from end-2012 (EUR 10 430.1 B) and growing by EUR 320.2 M (3.2%) year-on-year.

The general government's gross external debt totaled EUR 3 113 B (7.6% of GDP) in June 2013. It dropped by EUR 261.4 M (7.7%) from end-2012 (EUR 3 374.3 B, 8.5% of GDP). On a year-on-year basis, an increase of

EUR 385.7 M (14.1%) was reported (from EUR 2 727.3 B).

Banks' external debt totaled EUR 6 219.8 B (15.2% of GDP). It declined by EUR 234.8 M (3.6%) from end-2012 (EUR 6,454.7 B, 16.3% of GDP), and increased by EUR 280.6 M (4.7%) year-on-year (from EUR 5,939.2 B).

Other sectors' external debt equaled EUR 11 955.2 B (29.2% of GDP). It decreased by EUR 184.7 B (1.5%) from end-2012, and by EUR 256.4 M (2.1%) on a year-on-year basis (from EUR 12 211.5 B).

The stock of intercompany lending amounted to EUR 16 174.2 B (39.4% of GDP) at end-June 2013, growing by EUR 550.9 M (3.5%) from end-2012 (EUR 15 623.2 B, 39.4% of GDP). It grew by EUR 54.8 M (0.3%) from June 2012 (EUR 16 119.4 B).

The loans and deposits received from non-residents equaled EUR 2 149.1 B (5.2% of GDP) in January – June 2013, against EUR 3 208.2 B (8.1% of GDP) in the same period of 2012.

They were distributed as follows: general government received EUR 247 M (11.5%), banks received EUR 644.6 M (30%), other sectors received EUR 543.9 M (25.3%) and the received intercompany lending was EUR 713.6 M (33.2%).

The gross external debt service totaled EUR 2 945.4 B (7.2% of GDP) in January – June 2013, compared with EUR 2 779.6 B (7% of GDP) in the same period of 2012.

Net external debt totaled EUR 15 385.5 B at end-June 2013. It dropped by EUR 89.6 M (0.6%) from end-2012 (EUR 15 475.1 B). The decrease was due to the larger decline in gross external debt (by EUR 130 M, 0.3%) in comparison with the drop in gross external assets (by EUR 40.4 M, 0.2%).

As a percentage of GDP net external debt equaled 37.5%, dropping by 1.5 p.p. from end-2012 (39%).

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Tags: long-term liabilities, short-term liabilities, gross external debt, GDP, Central Bank, BNB, external debt

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