Bulgaria’s End-2011 Gross Foreign Debt Falls to 35.43 Bln Euro

Bulgaria’s End-2011 Gross Foreign Debt Falls to 35.43 Bln Euro

Bulgaria's gross foreign debt totalled 35.43 billion euro ($46.87 billion) at the end of 2011, down from 37.042 billion euro at the end of 2010, the central bank said on Thursday.

At the end of last year, Bulgaria's gross foreign debt was equivalent to 91% of the gross domestic product (GDP) projected for 2011, the central bank said in a statement.

On a monthly basis, gross foreign debt decreased by 291.8 million euro from the end of November when it stood at 35.7 million euro.

Bulgaria's long-term foreign debt was 25.37 billion euro and its short-term debt totalled 10.06 billion euro at the end of December.

Bulgarian banks' external debt at the end of last year amounted to 5.7 million euro, or 14.5% of the GDP, which is 1.2 million euro less compared with the end-2010 figures.

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