Bulgaria's Gross External Debt Down by EUR 1 B Y/Y

Bulgaria's gross external debt is down by EUR 1.092 B in January 2011 compared with January 2010, fresh data of the Bulgarian National Bank shows.

As of end-January 2011, Bulgaria's gross external debt1 was EUR 36.318 B (96.3% of GDP2), which is EUR 361.2 M less than in December 2010 (EUR 36.679 M, 101.8% of GDP). In end-January 2010, Bulgaria had a gross external debt of EUR 37. 411 B.

As of end-January 2011 long-term liabilities amounted to EUR 25.044 B (69% of total debt), and short-term liabilities came to EUR 11.274 B (31% of total debt).

Bulgarian government's external debt was EUR 2.722 B (7.2% of GDP) as of end-January 2011. It decreased by EUR 150.9 M compared with the end of 2010. Compared to end-January 2010 (EUR 2.880 B) the sector's debt decreased by EUR 158.3 M.

Bulgarian Banks' external debt was EUR 6.659 B (17.7% of GDP). It decreased by EUR 202.7 M (3%) against the end of 2010. Compared to end-January 2010 (EUR 7.893 M) the sector's debt decreased by EUR 1.233 M.

Other Sectors' debt was EUR 12.106 B. It decreased by EUR 90.4 M compared with the end of 2010. Compared to end-January 2010 (EUR 12.013 B) the sector's debt increased by EUR 93.2 M.

As of end-January 2011, the stock of intercompany lending was EUR 14.831 B, which was EUR 82.8 M (0.6%) more against the end of 2010. Compared to end-January 2010 (EUR 14.625 B) the sector's debt increased by EUR 205.7 M.

In January 2011, gross external debt service was EUR 540.5 million (1.4% of GDP) against EUR 966.9 million (2.7% of GDP) for the same period in 2010.4

In January 2011, loans and deposits received from non-residents were EUR 288.4 M (0.8% of GDP) against EUR 346.7 M (1% of GDP) for the same period in 2010. In the reporting period general government received EUR 6.6 M (2.3%), banks received EUR 58.8 M (20.4%), other sectors - EUR 24.2 M (8.4%), and EUR 198.9 M (68.9%) were the newly disbursed intercompany lending.

As of end-January 2011, Bulgaria's net external debt was EUR 18.400 B. It increased by EUR 63.2 M (0.3%) against the end of 2010 (EUR 18.336 B).

As of end-January 2011, as a percent of GDP it amounted to 48.8%, decreasing by 2.1 p.p. compared to end-2010 (50.9%). As of January 31, 2011 gross external assets were EUR 17.918 B against EUR 18.342 M as of end-December 2010.

As of end-January 2010 net external debt was EUR 19.633.9 million or 54.5% of GDP.

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