Bulgarian Non-financial Cos Total Debt Swells to 83 Bln Euro in 2011

Bulgarian Non-financial Cos Total Debt Swells to 83 Bln Euro in 2011

The total debt of Bulgarian non-financial companies continued to increase in 2011, reaching 163 billion levs ($111 billion/83.3 billion euro) by the end of the year, the Bulgarian Industrial Association (BIA) said.

In 2011, the liabilities of Bulgarian companies rose by 3.3% on the year and were two and a half times higher compared with 2005, data published by BIA showed.

The local companies owed 2.27 levs per 1.0 lev of gross domestic product in 2011, compared to 2.39 levs in 2010 and 1.58 levs in 2009.

According to BIA, the companies' total liabilities by the end of 2011 were more than 70% higher than their equity.

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