site.btaGross External Debt Decreases by EUR 1,166.5 Million in Late September from End of 2016

Sofia, November 28 (BTA) - The gross external debt amounted to EUR 32,879.8 million (65.5 per cent of the Gross Domestic Product) at end-September 2017, decreasing by EUR 1,166.5 million (3.4 per cent) from end-2016 (EUR 34,046.3 million, 70.7 per cent of the GDP). Year-on-year, the gross external debt dropped by EUR 654.4 million (2 per cent) from September 2016 (EUR 33,534.2 million, 69.7 per cent of GDP), the National Bank of Bulgaria said in a press release on Tuesday.

Long-term liabilities totalled EUR 25,395.9 million (77.2 per cent of the total debt, 50.6 per cent of GDP) at end-September 2017, dropping by EUR 1,219.2 million (4.6 per cent) from end-2016 (EUR 26,615.1 million, 78.2 per cent of the total debt, 55.3 per cent of GDP). Year-on-year, long-term liabilities decreased by EUR 1,047 million (4 per cent) from September 2016 (EUR 26,442.9 million, 54.9 per cent of GDP). Short-term liabilities equalled EUR 7,483.9 million (22.8 per cent of the total debt, 14.9 per cent of GDP), growing by EUR 52.7 million (0.7 per cent) from end-2016 (EUR 7,431.2 million; 21.8 per cent of the total debt, 15.4 per cent of GDP). Year-on-year, the short-term liabilities rose by EUR 392.7 million (5.5 per cent) from September 2016 (EUR 7,091.2 million, 14.7 per cent of GDP).

The general government's gross external debt totalled EUR 6,003.3 million (12 per cent of GDP) in end-September 2017, dropping by EUR 779.2 million (11.5 per cent) from end-2016 (EUR 6,782.5 million, 14.1 per cent of GDP). Year-on-year, the general government's debt decreased by EUR 484.6 million (7.5 per cent) from September 2016 (EUR 6,487.9 million, 13.5 per cent of GDP).

Banks' external debt totalled EUR 4,272.2 million (8.5 per cent of GDP), increasing by EUR 109.2 million (2.6 per cent) from end-2016 (EUR 4,162.9 million, 8.6 per cent of GDP). Year-on-year, the banks' debt grew by EUR 599.4 million (16.3 per cent), from EUR 3,672.7 million, 7.6 per cent of GDP in September 2016.

Other Sectors' external debt totalled EUR 10,554.3 million (21 per cent of GDP), dropping by EUR 175.5 million (1.6 per cent) from end-2016 (EUR 10,729.8 million, 22.3 per cent of GDP). Year-on-year, it decreased by EUR 309.9 million (2.9 per cent) from September 2016 (EUR 10,864.2 million, 22.6 per cent of GDP).

Intercompany lending amounted to EUR 12,050 million (24 per cent of GDP) at end-September 2017, dropping by EUR 321.1 million (2.6 per cent) from end-2016 (EUR 12,371.1 million, 25.7 per cent of GDP). Year-on-year, it decreased by EUR 459.4 million (3.7 per cent) from September 2016 (EUR 12,509.3 million, 26 per cent of GDP).

The external financing received from non-residents equalled EUR 3,556.2 million (7.1 per cent of GDP) in January - September 2017, compared with EUR 5,294.4 million (11 per cent of GDP) in January-September 2016. It was distributed as follows: general government received EUR 139.8 million (3.9 per cent of the total amount of disbursements), banks received EUR 951.3 million (26.8 per cent), other sectors received EUR 898.7 million (25.3 per cent), and intercompany lending totalled EUR 1,566.3 million (44 per cent).

Gross external debt service totalled EUR 4,287.3 million (8.5 per cent of GDP) in January-September 2017, compared with EUR 4,999 million (10.4 per cent of GDP) in January-September 2016.

The net external debt had a negative value of EUR 1,586.5 million (3.2 per cent of GDP) at end-September 2017, dropping by EUR 3,112.8 million from end-2016 (EUR 1,526.4 million, 3.2 per cent of GDP). Its decline was due to both the decrease in gross external debt (by EUR 1,166.5 million, 3.4 per cent) and the increase in gross external assets (by EUR 1,946.3 million, 6 per cent). On a year-on-year basis, the net external debt decreased by EUR 3,071.5 million (from EUR 1,485.1 million, 3.1 per cent of GDP in September 2016).