Bulgarias public debt up 1.8% m/m to EUR 5.61bn at end-Nov 2011.

By bne IntelliNews January 3, 2012
Bulgarias general government debt, excluding state guarantees, increased by 1.8% m/m and 6.3% y/y to EUR 5.61bn at the end of November, the finance ministry informs. The total public debt accounted for 14.6% of the full-year GDP estimate. The debt increased due to government bonds sold on the domestic market as well as exchange rate fluctuations. Domestic government debt added 2.4% in monthly terms to EUR 2.27bn at end-November. Its share in the total debt was 40.4%, up from 40.2% at end-October and 37.2% at end-November 2010. External government debt went up by 1.4% m/m to EUR 3.34bn. An additional 1.6% of GDP is booked as state guarantees, slightly up as compared to a month earlier due to exchange rate fluctuations mainly. As per 2012 budget projections the government debt will reach 18.7% of GDP at the end of 2012. The ministry intends to borrow a gross amount of BGN 1.2bn from the domestic market and plans net external financing of EUR 1.2bn. Similar to 2011 budget bill, the bill for 2012 includes an option for EUR 1bn bond placement on the international market.

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