Bulgaria’s End-February Gross Foreign Debt Falls 0.7% from End-2015

Bulgaria’s gross foreign debt totalled EUR 33.87 B at end-February, equivalent to 73.1% of the projected 2016 GDP, the central bank reported on Tuesday.

The debt figure, which is preliminary, was 0.7% lower compared with end-2015, the Bulgarian National Bank (BNB) said in a monthly debt report.

Long-term debt totalled EUR 26.11 B at the end of February 2016, down by 0.4% from end-2015.

Short-term foreign debt decreased by 1.6% from the end of last year, reaching EUR 7.76 B.

General government’s gross foreign debt totalled EUR 5.47 B at end-February, decreasing by 1.8% from end-2015.

The stock of intercompany lending amounted to EUR 12.65 B at the end of February 2016, increasing by EUR 1.3 million or 0.01% from end-2015.

Bulgaria’s net foreigh debt (owed by general government, banks, other sectors plus intercompany lending) totalled EUR 6.02 B at end-February 2016, down 12.2% from end-2015.

The decrease was due both to the decline in gross foreign debt by 0.7% and an increase in gross external assets by EUR 616.6 M, or 2.3%, from end-2015, the BNB said.

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