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

Moody's upgrades troubled Azerbaijani lender IBA's rating to 'Caa1', downgrades Moscow unit

Rating agency Moody's upgraded the long-term foreign and local currency deposit ratings of Azerbaijan's largest lender, International Bank of Azerbaijan (IBA), on July 25 from 'Caa2' to 'Caa1'. ... more

Raiffeisen to file lawsuit against new Croatian banking law

Austria's Raiffeisen Bank is preparing to file a complaint at the Croatian constitutional court later in July against a recent law that aims to declare thousands of its loans to Croatians void, ... more

94% of creditors of Azerbaijan's IBA approve debt restructuring plan

An overwhelming majority of creditors (93.9%) to the International Bank of Azerbaijan (IBA) approved the bank's ... more