Bulgaria Has Eastern Europe's 2nd Lowest Borrowing Need

Business » FINANCE | January 29, 2013, Tuesday // 20:32| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Bulgaria Has Eastern Europe's 2nd Lowest Borrowing Need File photo

The Bulgarian government's financing needs are the second lowest in eastern Europe, according to Moody's Investors Service.

The Balkan country is second only to Estonia, whose borrowing requirements are the lowest at 3.2%.

The 11 Eastern European countries included in the Moody's survey ranked by 2013 borrowing needs in descending order are Hungary, the Czech Republic, Slovakia, Turkey, Romania, Poland, Slovenia, Lithuania, Latvia, Bulgaria and Estonia, according to Bloomberg.

Eastern Europe's total borrowing needs will shrink from last year relative to the region's economic output as governments keep spending under control and economic growth picks up, Moody's said. The outlook for the region is improving as contagion risks from the euro area's debt crisis recede.

Borrowing needs will increase 4.1% from last year to EUR 184 B, Moody's said. Relative to GDP, they will fall to 9.9% from 10.2%  last year, according to the company.

As governments continue to cut spending, average government deficit will shrink to 2.3% of GDP from 2.5% in 2012, Moody's said, according to Bloomberg.

Finance » Be a reporter: Write and send your article
Tags: financing needs, borrowing, Bulgaria, Hungary, Eastern Europe
Expats.bg All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria