Bulgaria's gross external debt shrank 1.3% y/y to EUR 37.4bn as of end-November 2013, accounting for 92.1% of the full-year GDP projection, down from 95.6% a year earlier, central bank data showed. Total foreign debt decreased 0.6% ytd to EUR 215mn. In November alone, the gross foreign debt increased 2% from the month before.
The long-term external debt edged down 0.6% y/y to EUR 27.3bn, constituting 73% of the country's total external debt. The short-term debt narrowed 3.2% y/y to EUR 10.1bn (27% share of the total).
The public sector's external borrowing fell 15.4% y/y to EUR 3.9bn at end-November due to the high base effect of last year when the government issued a five-year EUR 950mn Eurobond. The private-sector debt owed to foreigners inched up 0.6% y/y to EUR 33.5bn.
The banks’ external indebtedness declined 11.2% y/y to EUR 5.7bn as of end-November. The sector's short-term debt was down by 9.3% y/y to EUR 4.3bn, while its long-term liabilities decreased 16.6% y/y to EUR 1.4bn. The external debt of non-financial corporations slid 0.3% y/y to EUR 16bn.
The Bulgarian parliament has overturned a veto by President Rumen Radev on the controversial anti-corruption law that was adopted in December despite strong objections from the ... more
The Sofia city authorities have announced plans for wide-reaching measures to curb high levels of air pollution in the capital. Bulgaria has the highest levels of PM10 concentrations in ... more
The European Commission said that will refer Bulgaria and Romania, along with Luxembourg and Spain, to the Court of Justice of the EU as they have failed to notify ... more