Bulgarias foreign debt drops 3% y/y to EUR 35.5bn at end-Nov 2011.

By bne IntelliNews January 25, 2012
The gross external debt declined by 3% y/y and 0.7% in a month to EUR 35.5bn as of end-November, according to preliminary data of the central bank. The foreign liabilities of both the public and the private sectors fell at the same rate like the total. The reduction of the private sector debt was a result of the banking sector activity (contraction of the short-term deposits of foreigners). The total foreign debt accounted for 90.7% of the full-year GDP estimate as compared to 101.6% of GDP at the end of Nov 2010. The short-term debt, covering liabilities with original maturity of one and less than one year, went down to 28.7% of the total, as compared to 29.3% at the end of October and 30.4% a year earlier. The credits on demand accounted for 24.8% of the total external debt (up from 24.6% at end-Oct but down from 25.3% in annual comparison). Some 62.3% of them were reported as inter-company loans. The share of total inter-company loans, which are not included in the short-term debt statistics, accounted for 41.4% of the total external debt, up by 0.3pps in a month and 0.7pps in annual comparison. The ratio of foreign reserves to short-term debt improved further to 129.3% at the end of November as compared to revised 125.6% a month earlier and 113.8% at the end of November 2010. It has exceeded its level in the past four years but is still weaker compared to about 300% in 2002-2004.

Bulgarias foreign debt drops 3% y/y to EUR 35.5bn at end-Nov 2011.

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