Bulgaria to borrow up to 3.73 bln euro in 2022, to tap foreign markets

Bulgaria to borrow up to 3.73 bln euro in 2022, to tap foreign markets

Bulgaria plans this year to seek on foreign and domestic markets up to 7.3 billion levs ($4.23 billion/3.73 billion euro) in debt, part of which will go to refinance a bond issue, finance minister Assen Vasilev said on Friday.

The draft budget for 2022 envisages raising 4.3 billion levs of new debt, and 3 billion levs to refinance existing debt, Vassilev said, as seen in a video file published on the website of business news daily Dnevnik.bg.

The debt level will remain low, at 26.7% of the planned gross domestic product (GDP), he added.

The 2022 draft budget also projects a deficit equivalent to 4.1% of GDP with COVID-related expenditure included, and a gap of 2.5% of GDP without those expenses.


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