Gross foreign debt in Bulgaria reaches nearly 80% of GDP
Monday, 27 August 2007
Bulgaria's gross foreign debt reached 21.18 billion euro at the end of June 2007.
This is an increase of 1.5 billion euro, or 7.7 per cent, over the first six months of 2007 and its share in the GDP reached 79.2 per cent, according to Bulgarian National Bank (BNB) statistics, as quoted by Dnevnik daily.
The annual gross foreign debt increase was 22.5 per cent.
Long-term debt at the end of June 2007 was 14.6 billion euro, 69 per cent of the total debt. Short-term debt was 6.57 billion euro, 31 per cent of the debt.
Bulgaria incurred debts mainly from debts in the private sector, which reached 17 billion euro in June 2007. Private sector debts were also among the main reasons for the increased current account deficit.
Gross foreign debt in the state sector reached 3.19 billion euro at the end of June. State debt decreased by 13 per cent compared with the end of 2006.
Sofia echo
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