Only in last year Bulgaria’s external debt has gone up by 14.4 percent
Gross external debt (1) amounted at the end of December to EUR 14,324,900,000 (thus constituting 67.7% of the GDP), registering an upsurge by EUR 1,802,900,000 as against the end of 2004. Before
that the external debt amounted to EUR 12,522,100,000 or 64.4% of the Gross Domestic Product. As a main cause of the rise in the external debt can be considered credits related to direct investment
whose rise (EUR 1,407,500,000 or 72.4%) constitutes 78.1% of the total rise of the debt. Long-term liabilities of the country amount to EUR 10,651,500,000 (74.4% of the external debt), while
short-term liabilities have run to EUR 3,673,400,000 (or 25.6% of the debt of the country).
The gross external debt of the State Sector Management totaled at the end of December EUR 4,397,600,000 (2) (20.8% of the GDP) as compared to EUR 5,824,700,000 (or 30% of the GDP) at the end of
2004, the fall being mainly attributable to the reverse purchase of Brady bonds, IAB type in January 2005 and of the last Brady bonds, FLIRB type – in July 2005.
The external liabilities of Trade Banks sector amounted at the end of last December to EUR 2,522,300,000 (11.9 % of GDP), while at the end of 2004 they totaled EUR 1,692,500,000 (or 8.7% of
GDP).
The external debt of sector ‘Others’ amounted to EUR 4,053,000,000, having gone up by EUR 992,700,000 (32.4 %). External liabilities of credits related to Direct Investments amounted to EUR
3,352,000,000 and register an increase by EUR 1,407,500,000 (72.4%) as compared with the end of 2004.
In the period January – December 2005 there have been made payments on servicing the gross external debt totaling EUR 5,609,300,000 and constituting 26.5% of the Gross Domestic Product. In the
corresponding period of 2004 the relevant amount totaled EUR 2,610,600,000 (13.4% of the GDP). Payments amounting to EUR 2,349,600,000 (11.1% of the GDP) were made for servicing the external debt
of the State Sector Management, EUR 2,077,400,000 of which were paid on principals and EUR 272,300,000 on rates of interest (2). From January to December 2005 payments amounting to EUR
1,380,600,000 (6.5% of the GDP) were made for servicing the external debt of the Trade Banks sector, EUR 1,359,500,000 of which were paid on principals and EUR 21,100,000 on rates of interest as
against total EUR 305,300,000 (EUR 287,500,000 in principals and EUR 17,800,000 on rates of interest) in 2004. With respect to the external debt of sector ‘Others’, payments made equaled EUR
868,400,000 (790,100,000 on principals and 78,300,000 on rates of interest). Total EUR 1,010,700,000 was paid to liabilities regarding Direct Investments as against EUR 269,000,000 in the
corresponding period of 2004.
Credits and deposits received from non-residents in the period January - December 2005 amounted to EUR 5,270,800,000 (24.9% of the GDP). For the corresponding period of 2004 they totaled EUR
4,161,200,000 or 21.4% of the GDP. State Sector Management received EUR 285,400,000 as against 506,800,000 in the previous year; Trade Banks sector received deposits and credits from non-residents
amounting to EUR 1,688,500, the amount being by EUR 460,900,000 larger as compared with the corresponding period of 2004. New liabilities with relation to Direct Investments total EUR 2,004,400,000
or by EUR 1,173,600,000 more than the liabilities of that sector for 2004 (EUR 830,800,000).
(1) – preliminary figures
(2) –abiding by the residual principle
