Bulgaria's Gross External Debt Down by EUR 1.2 B in March Y/Y

Bulgaria's Gross External Debt Down by EUR 1.2 B in March Y/Y

Bulgaria's gross external debt was EUR 36 B in March 2011, a decrease of EUR 1.169 B year-on-year, according to latest data of the Bulgarian National Bank (BNB).

As of end-March 2011 gross external debt was EUR 36.099 B (94.5% of GDP), which is EUR 580.4 M less compared with the end of 2010 (EUR 36.7 B, 101.8% of GDP).

As of end-March 2011 Bulgaria's long-term liabilities amounted to EUR 25.342 M (70.2% of total debt), and short-term liabilities came to EUR 10.76 B (29.8% of total debt).

Bulgaria's government debt, which is among the lowest in the EU as a percentage of the GDP, has continued to declined.

General government's external debt was EUR 2.740 B (7.2% of GDP) as of end-March 2011. It decreased by EUR 132.6 M against the end of 2010 (EUR 2.873 B, 8% of GDP). Compared to end-March 2010 (EUR 2.861 B) the sector's debt decreased by EUR 121 M.

The external debt of Bulgarian banks external debt was EUR 6.450 B (16.9% of GDP). It decreased by EUR 411.9 M (6%) against the end of 2010. Compared to end-March 2010, (EUR 7.874 B) the sector's debt decreased by EUR 1.424 B.

Other Sectors' debt was EUR 12.169 B. It decreased by EUR 27.8 M relative to the end of 2010. Compared to end-March 2010 (EUR 11.875 B) the sector's debt increased by EUR 293.2 M.

As of end-March 2011 the stock of intercompany lending in Bulgaria was EUR 14.74 B, which was EUR 8.1 M (0.1%) less compared with the end of 2010. Compared to end-March 2010 (EUR 14.66 B) the sector's debt increased by EUR 82 M.

As of March 31, 2010, 88.1% of Bulgaria's gross external debt was denominated in EUR and 6.4% in USD. (Source: Sofia News Agency)

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