Bulgaria's fiscal reserve up 1.7% m/m in November 2012.

By bne IntelliNews January 2, 2013
The fiscal reserve rose by 1.7% m/m (BGN 116.5mn) to BGN 6.75bn (EUR 3.45bn) at the end of November as government finances in November recovered from the record-high for the year monthly deficit of BGN 322mn posted in October, finance ministry data showed. On an annual basis, the reserve surged 24% y/y, due to proceeds from the EUR 950mn Eurobond that the government placed on July 2. The funds will be used to finance maturing on January 15 EUR 818mn global bond, which means that by the end of January 2013, the reserve will have fallen sharply. The fiscal reserve decreased by 16.9% or BGN 1.01bn in 2011. The fiscal reserve floor is set at BGN 4.5bn in 2012 budget law, unchanged from 2011 and 2010 levels.
Read in IntelliNews Pro
Get IntelliNews Pro

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

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  4. Don't mention the "D" word - Ukraine
    4 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. Saudi Arabia to scale back plans for Neom city
    14 days ago

Reports

Dismiss