Bulgarias public debt rises 0.3% m/m to EUR 5.52bn at end-Oct 2011.

By bne IntelliNews December 8, 2011
Bulgarias general government debt, excluding state guarantees, increased by 0.3% on the month and by 5.9% on the year to EUR 5.52bn at the end of October, the finance ministry said. The total public debt accounted for 14.3% of the full-year GDP forecast, the ministry said in a statement. The debt increased due to government bonds sold mainly on the domestic market. As a result, domestic government debt added 2.8% in monthly terms to EUR 2.22bn at end-October. Its share in the total debt was 40.2%, up from 39.2% at end-September and 37.4% at end-October 2010. External government debt went down by 1.3% m/m to EUR 3.3bn in October. An additional 1.5% of GDP is booked as state guarantees, slightly down as compared to a month earlier due mainly to exchange rate fluctuations. The 2012 budget draft projects 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 a net external financing EUR 1.2bn. Similar to this years budget bill, the 2012 draft includes an option for EUR 1bn bond placement on the international market.
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