Bulgaria's Gross Foreign Debt Down by EUR 1.4 B Y/Y

Finance | December 25, 2010, Saturday // 15:15|  views

At the end of October 2010, Bulgaria's gross external debt stood at EUR 36,02 B, which is a decrease of EUR 1,415 B compared with October 2009, according to latest data of the Bulgarian National Bank.

Thus, in October 2010, Bulgaria's gross external debt was 99.7% of GDP; it decreased by EUR 1.78 B compared with the end of December 2009, when it amounted to EUR 37.80 B, or 107.9% of GDP.

As of end-October 2010 long-term liabilities amounted to EUR 24.68 B (68.5% of total debt), and short-term liabilities came to EUR 11.34 B (31.5% of total debt).

The general government external debt was EUR 2.73 B (7.6% of GDP) as of end-October 2010. It decreased by EUR 70.1 M against the end of 2009. Compared to end-October 2009, (EUR 2.75 B) the sector's debt decreased by EUR 23.5 M.

Banks' external debt was EUR 6.71 M (18.6% of GDP). It decreased by EUR 1.65 B (19.8%) against the end of 2009. Compared to end-October 2009 (EUR 8 B) the sector's debt decreased by EUR 1.34 B.

Other Sectors' debt was EUR 12.06 B. It decreased by EUR 101 M relative to the end of 2009.

Compared to end-October 2009 (EUR 12.3 B), the sector's debt decreased by EUR 281.3 M.

As of end-October 2010, the stock of intercompany lending in Bulgaria was EUR 14.51 B, which was EUR 44.2 M (0.3%) more against the end of 2009. Compared to end-October 2009 (EUR 14.3 B) the sector's debt increased by EUR 239.2 B.

In January-October 2010, Bulgaria's gross external debt service was EUR 6.33 B (17.5% of GDP) against EUR 6.2 B (17.7% of GDP) for the same period of 2009.

In January-October 2010, loans and deposits received from non-residents were EUR 4,4 B (12.2% of GDP) against EUR 6.07 B (17.3% of GDP) for the same period of 2009. In the reported period General Government received EUR 156.6 M (3.6%), Banks received EUR 1.84 B (42%), Other Sectors - EUR 722.8 M (16.4%), and EUR 1.67 B (38.1%) were the newly disbursed Intercompany Lending.

As of end-October 2010, the net external debt was EUR 18.36 B. It decreased by EUR 1.13 B (5.8%) against the end of 2009 (EUR 19.5 B). As of end-October 2010 as a percent of GDP it amounted to 50.8%, decreasing by 4.8 p.p. compared to end-2009 (55.6%).

As of October 30, 2010 gross external assets were EUR 17.66 B against EUR 18.31 B million as of end-December 2009. As of end-October 2009 net external debt was EUR 19.86 M, or 56.7% of GDP.

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Tags: BNB, Bulgarian National Bank, foreign debt, external debt

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