Bulgaria’s fiscal reserve up 31% y/y at end-February

By bne IntelliNews April 6, 2015

Bulgaria’s fiscal reserve increased by 31% y/y to BGN7.94bn (€4.06bn) at end-February, after rising by 7.6% y/y at end-January, data from the ministry of finance showed. In monthly comparison terms, the fiscal reserve increased by 11.4% at end-February, after dropping by 22.3% at end-January.

The fiscal reserve deposits went up 36.4% y/y to BGN5.68bn at the end of the second month of 2015. Deposits at the central bank rose by 21.7% y/y to BGN4.46bn. Deposits at commercial banks soared 2.4 times y/y to BGN1.22bn at end-February.

In addition, receivables from EU funds for certified expenditures, advances and others grew by 19% y/y to BGN2.26bn at end-February.

Fiscal Reserve, BGNmn          
  Feb'14 Jan'15 Feb'15 % y/y % m/m
Deposits at the c-bank 3,662.8 4,557.5 4,457.7 21.7% -2.2%
Deposits at commercial banks 499.5 1,250.7 1,221.5 144.5% -2.3%
Receivables from EU funds 1,898.7 1,321.3 2,260.7 19.1% 71.1%
TOTAL Fiscal Reserve 6,061.0 7,129.5 7,939.9 31.0% 11.4%
Source: Ministry of finance          

Related Articles

Kazakh central bank approves €1bn assistance package for four banks

Kazakhstan’s central bank announced on October 18 that it has approved an assistance package worth KZT410bn (€1.04bn) for ATF Bank, Eurasian Bank, Tsesna Bank and Bank ... more

Dutch investment group acquires Georgia's third largest bank from local venture

Liberty Bank, the third largest lender in Georgia, announced on October 13 that a Netherlands-based company, the European Financial Group, has purchased 74.64% of its equity. No further details ... more

Ukrainian central bank bans Russian banknotes, coins depicting occupied territories

The National Bank of Ukraine (NBU) has forbidden local banks and the country's financial institutions to perform any cash transactions using the new banknotes and coins issued by the Russian central ... more

Dismiss