Bulgaria Boasts Second Lowest External Debt in EU
Bulgaria has secured the second spot in the European Union for maintaining the lowest external debt relative to GDP, based on Eurostat data from the end of the third quarter of the previous year
Bulgaria's State Debt Up by EUR 560 M in 2011
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Bulgaria's nominal state debt grew by EUR 560.9 M in 2011 year-on-year, according to Finance Ministry data released Friday.
At the end of 2011, Bulgaria's nominal government debt amounted to EUR 5.946 B, including EUR 3.487 B external debt, and EUR 2.458 B domestic debt, the data indicates.
"The growth of the debt in absolute terms is due to the new domestic and external funding received throughout the year, as well as to the currency exchange differences in its reassessment," the Bulgarian Finance Ministry explained.
Thus, at the end of 2011, Bulgaria's state debt amounted to 15.5% of the country's GDP.
A total of 53.3% of the Bulgarian state debt is in EUR, 28.6% - in BGN, 15.6% - USD, and 2.5% - in other currencies.
At the end of 2011, Bulgaria's state guaranteed debt amounted to EUR 612.1 M, up by EUR 25 M year-on-year, including EUR 606 M in external debt, and EUR 6.1 M in domestic debt. The state guaranteed debt is 1.6% of Bulgaria's GDP.
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