Bulgaria remains EU's second least indebted country in Q3 2012.

By bne IntelliNews January 24, 2013
Bulgarias government debt to GDP ratio stood at 18.7% in the third quarter of 2012, ranking the country second least indebted member state in Q3, Eurostat data showed. The ratio increased from 16.5% in the second quarter of 2012 as a result of the 5-year EUR 950mn Eurobond placed in July. Bulgaria's public debt as a percent of GDP will remain at its level from Q3 by the end of 2012 after which it will drop again to around 15% as in January Bulgaria retired a global bond, issued in 2002, making the last payment for EUR 878mn. This repayment was financed with the proceeds from the Eurobond issued in July. The most indebted countries in the EU in Q3 were Greece (152.6%), Italy (127.3%) and Portugal (120.3%). According to latest finance ministry data, Bulgarias general government debt, excluding state guarantees, stood at EUR 7.04bn at the end of November and at 17.7% relative to expected year-end economic output. An additional 1.4% of GDP is booked as state guarantees.
Government debt to GDP, % Q2/11 Q3/11 Q1/12 Q2/12 Q3/12
Bulgaria 15.2 15 16.7 16.5 18.7
Romania 33.6 32.7 36.3 35.6 35.2
Czech Republic 38.6 39.8 43.5 43.6 44.9
Poland 55.9 56.3 56.1 57 55.9
Hungary 78.4 83.4 79.6 78.9 78.6
Source: Eurostat

Bulgaria remains EU's second least indebted country in Q3 2012.

Related Articles

EC urges Bulgaria to comply with EU rules on free movement of capital.

The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more

Govt seeks delay of antitrust rules violation procedure against Bulgaria.

Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more

Bulgarians hold EUR 100mn in deposits in Cyprus.

Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss