Syria to repay USD 17mn of government debt to Bulgaria next month.

By bne IntelliNews April 26, 2010
The governments of Syria and Bulgaria signed a bilateral agreement envisaging the repayment of USD 17mn of Syrian government debt to Bulgaria next month, the cabinet said on its website. The amount represents about 24% of the total liabilities of the Syrian government to the Bulgarian state totalling USD 75mn. The payment will support the fiscal reserve, which declined by 14% m/m and 23.6% y/y to BGN 6.34bn (EUR 3.24bn) at the end of February and reached the threshold of BGN 6.3bn set in the budget law for this year.

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