Bulgaria's gross foreign debt rises 6.8% y/y at end-Nov - c-bank

Bulgaria's gross foreign debt rises 6.8% y/y at end-Nov - c-bank

Bulgaria's gross foreign debt totalled 42 billion euro ($47 billion) at the end of November, a rise of 6.8% on an annual comparison basis, the country's central bank said on Friday.

The gross foreign debt at the end of November was equivalent to 64% of the forecast gross domestic product (GDP) in 2021, the Bulgarian National Bank said in a statement.

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Bulgaria’s cabinet to discuss the 2022 state budget

Bulgaria’s cabinet is expected to meet online today to discuss the 2022 draft state budget, the budget of the State Social Security and the National Health Insurance Fund. The 2022 draft budget envisages a GDP growth of 4.8%, or 1.2% more as compared to 2021.

The budget deficit excluding the Covid-19 measures will stand at 2.5% of the GDP. The deficit including the coronavirus measures will amount to 4.1% of the GDP.

Unemployment is expected to drop from 5.4% to 5%. The average annual inflation is expected to reach 5.6%. The minimum monthly salary will rise to EUR 363 from April 1.

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