Bulgaria’s Gross Foreign Debt Falls Slightly in January

Bulgaria’s gross foreign debt edged down by 0.7% month-on-month, reaching EUR 33.8 B at the end of January, or 73% of 2016 GDP forecast, according to preliminary data, the country’s central bank announced on Friday

Long-term foreign debt totalled EUR 26.1.B at end-January, falling by 0.4% from end-December, the BNB said.

Short-term debt dropped by 1.7%, reaching EUR 7.7 B

General government’s gross foreign debt totalled EUR 5.5 B as at end-January, decreasing by 1.9% from end-December.

The figures for 2015 have been revised, the BNB said.

Bulgaria paid close to EUR 200 M to service its gross foreign debt in January 2016.

Net external debt (gross foreign debt less gross foreign assets in debt instruments) decreased by 7.2% month-on-month, 0.7%  reaching EUR 6.4 B at the end of January, due to the decrease in gross foreign debt by 0.7% and an increase in gross foreign assets by EUR 256 M, or 0.9%.

Gross foreign assets include the BNB reserve assets as well as assets held abroad by Bulgaria’s commercial banks and non-financial sector.