Bulgaria's Foreign Debt Rises 1.1 pct m/m as at End of February

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Bulgaria's Foreign Debt Rises 1.1 pct m/m as at End of February

At the end of February 2008 Bulgaria's gross external debt stood at 27,790.8 million euros (84.8% of GDP) , which is down by 333 million (1.2%) compared with the end of 2007 (eur 28,123.7 million, 97.3% of GDP), Bulgarian National Bank statistics shows.

Deposits of non-residents in local banks continued to decrease (eur 493.5 million, 12.6%). By end-February 2008 long-term liabilities amounted to eur 18,637.9 million (67.1% of total debt) and short-term liabilities came to 9,152.8 million euros (32.9% of total debt).

General Government’s external debt is down to 3,018.7 million euros (9.2% of GDP) from 5.5 million euros (0.2%) as at the end of December 2007.

Banks’ external debt amounted to 5,304 million euros (16.2% of GDP), which is a decrease of 7.7% compared with end of 2007. Other Sectors’ debt stood at 9,850.1 million euros.

At the end of February 2008 the stock of Direct Investment liabilities amounted to 9,618 million euros, against 9,582.1 million euros at the end of 2007.

In January – February 2008, gross external debt service was slightly down to 1,171.8 million euros (3.6% of GDP) from 1,284.1 million euros (4.4% of GDP) in the same period in 2007.

In January – February 2008, loans and deposits received from non-residents came to 647.3 million euros (2% of GDP) versus 1150.1 million euros (4% of GDP) for the same period in 2007.

Net external debt is up 8.5% so far into this year to 11,949.4 million euros (36.5% of GDP). At the end of 2007 it stood at 11,012.6 million euros (38.1% of GDP).

Photo: Bulgarian National Bank

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