Bulgaria's Gross External Debt Reaches 95.6% of GDP at the End of October

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Bulgaria's Gross External Debt Reaches 95.6% of GDP at the End of October

As of end of October 2007, the nation's gross external debt reaches EUR 25,548.5 million (95.6% of GDP), which is EUR 5,437.8 million (27%) up against the end of 2006 (EUR 20,110.7 million, 80.1% of GDP), according to statistics released by Bulgarian National Bank today.

By end-October 2007 long-term liabilities amounted to EUR 17,423.8 million (68.2% of total debt), and short-term liabilities to EUR 8,124.8million (31.8% of total debt).

At the end of October, General Government’s external debt stood at EUR 3,084.1 million (11.5% of GDP), which is EUR 581.1 million (15.9%) down against the end of December 2006.

The decline is mainly due to repayment of global bonds and to the full repayment of the debt to the International Monetary Fund ahead of schedule.

Banks’ external debt rose 37.3% or by EUR 1,251.5 million (37.3%) in Jan- Oct to EUR 4,605.7 million (17.2% of GDP). Other Sectors’ debt rose 24% or by EUR 1,723.7 million this year to EUR 8,916 million.

As of end-October 2007, the stock of Direct Investment liabilities amounts to EUR 8,942.6 million, which is EUR 3043.6 million (51.6%) up against the end of 2006.

In January – October 2007, gross external debt service was EUR 4,844.9 million (18.1% of GDP), compared with EUR 3,490.2 million (13.9% of GDP) in the respective period in 2006.

In January – October 2007, loans and deposits received from non-residents came to EUR 8,584.3 million(32.1% of GDP), versus EUR 6,881.1 million (27.4% of GDP) a year ago.

As of end-October 2007, net external debt stands at EUR 9,645.2 million (36.1% of GDP) which is EUR3,681.1 million (61.7%) above end of 2006 figures (EUR 5,964 million, 23.8% of GDP).

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